Bremer Bank National Association Has $207,000 Position in McKesson Co. (NYSE:MCK)

Bremer Bank National Association trimmed its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 67.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307 shares of the company's stock after selling 638 shares during the quarter. Bremer Bank National Association's holdings in McKesson were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position in shares of McKesson by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after acquiring an additional 16 shares during the period. Frank Rimerman Advisors LLC boosted its position in shares of McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after acquiring an additional 17 shares during the period. Hemington Wealth Management boosted its position in shares of McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after acquiring an additional 18 shares during the period. First Western Trust Bank boosted its position in shares of McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after acquiring an additional 18 shares during the period. Finally, Moody National Bank Trust Division boosted its position in shares of McKesson by 0.9% in the first quarter. Moody National Bank Trust Division now owns 2,003 shares of the company's stock valued at $1,348,000 after acquiring an additional 18 shares during the period. 85.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the transaction, the executive vice president now owns 2,544 shares of the company's stock, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president now directly owns 2,621 shares of the company's stock, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,747 shares of company stock valued at $9,852,587. 0.11% of the stock is currently owned by corporate insiders.

McKesson Price Performance

MCK stock traded up $1.39 during midday trading on Friday, reaching $712.99. The company had a trading volume of 544,199 shares, compared to its average volume of 916,474. The company has a market capitalization of $89.20 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The stock has a 50 day moving average price of $699.69 and a 200-day moving average price of $641.11. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.18 earnings per share. As a group, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced 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. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is 10.99%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCK. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday. Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. UBS Group boosted their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $692.46.

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.