Park National Corp OH Sells 1,404 Shares of McKesson Co. (NYSE:MCK)

Park National Corp OH trimmed its stake in McKesson Co. (NYSE:MCK - Free Report) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,852 shares of the company's stock after selling 1,404 shares during the period. Park National Corp OH's holdings in McKesson were worth $9,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Wolff Wiese Magana LLC raised its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC bought a new stake in shares of McKesson in the 3rd quarter valued at $40,000. Finally, Centennial Bank AR acquired a new stake in shares of McKesson during the second quarter worth $53,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

McKesson Stock Up 0.7 %

MCK stock traded up $4.36 during mid-day trading on Wednesday, reaching $589.60. 526,104 shares of the company traded hands, compared to its average volume of 619,181. The firm's 50 day moving average price is $589.65 and its 200 day moving average price is $561.45. The stock has a market cap of $74.84 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 1.25 and a beta of 0.49. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 earnings per share. McKesson's quarterly revenue was up 21.3% on a year-over-year basis. On average, analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Analyst Upgrades and Downgrades

A number of analysts have commented on MCK shares. Evercore ISI upped their price target on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price on the stock. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Finally, Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and an average price target of $648.71.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.