Comerica Bank Sells 3,669 Shares of McKesson Co. (NYSE:MCK)

Comerica Bank trimmed its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,914 shares of the company's stock after selling 3,669 shares during the period. Comerica Bank's holdings in McKesson were worth $17,618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC purchased a new position in shares of McKesson during the 4th quarter valued at $28,000. Synergy Asset Management LLC acquired a new position in McKesson in the fourth quarter worth approximately $32,000. Crews Bank & Trust acquired a new stake in McKesson in the fourth quarter valued at approximately $33,000. Atala Financial Inc bought a new stake in McKesson in the fourth quarter worth approximately $34,000. Finally, Graney & King LLC bought a new position in shares of McKesson during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on MCK. Morgan Stanley increased their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Wells Fargo & Company increased their price target on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Finally, UBS Group raised their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $681.00.

McKesson Price Performance

Shares of NYSE MCK traded down $1.73 during trading hours on Monday, reaching $706.68. The stock had a trading volume of 993,079 shares, compared to its average volume of 890,494. The company has a market cap of $88.57 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The business's fifty day moving average is $671.24 and its two-hundred day moving average is $614.75.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's dividend payout ratio is currently 13.00%.

McKesson 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.