Trustmark National Bank Trust Department Sells 363 Shares of McKesson Co. (NYSE:MCK)

Trustmark National Bank Trust Department lessened its stake in McKesson Co. (NYSE:MCK) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,334 shares of the company’s stock after selling 363 shares during the quarter. Trustmark National Bank Trust Department’s holdings in McKesson were worth $2,637,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. LRI Investments LLC acquired a new stake in McKesson in the 1st quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its holdings in 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 purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in McKesson in the third quarter valued at $29,000. ORG Wealth Partners LLC acquired a new stake in McKesson in the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson during the 2nd quarter worth about $52,000. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Evercore ISI increased their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Leerink Partners cut their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Two investment 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Price Performance

Shares of NYSE:MCK opened at $621.29 on Thursday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock has a market capitalization of $78.87 billion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The company’s 50 day simple moving average is $526.55 and its 200 day simple moving average is $556.24.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for 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 firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company posted $6.23 EPS. As a group, analysts anticipate that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

About McKesson

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.