McKesson Co. (NYSE:MCK) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. reduced its stake in shares of McKesson Co. (NYSE:MCK) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 533 shares of the company’s stock after selling 115 shares during the period. Stock Yards Bank & Trust Co.’s holdings in McKesson were worth $304,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MCK. Synergy Asset Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at about $29,000. Crews Bank & Trust acquired a new position in shares of McKesson in the 4th quarter valued at about $33,000. Wolff Wiese Magana LLC boosted its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the 3rd quarter valued at about $31,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of MCK opened at $603.40 on Wednesday. The company’s 50 day moving average price is $590.46 and its 200 day moving average price is $562.09. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The company has a market capitalization of $76.59 billion, a PE ratio of 31.25, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.23 earnings per share. On average, equities analysts forecast that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is 14.71%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value 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. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MCK. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

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.