McKesson Corporation $MCK Shares Purchased by Town & Country Bank & Trust CO dba First Bankers Trust CO

Key Points

• Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in McKesson Corporation by 22.3%, holding 2,993 shares valued at $2.19 million as of the latest reporting period.
• CEO Brian S. Tyler sold 11,930 shares, significantly reducing his stake by 74.83%, indicating potential insider selling trends.
• McKesson declared a quarterly dividend increase to $0.82 per share, up from the previous $0.71, with an annualized yield of 0.5%.

Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 22.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,993 shares of the company's stock after purchasing an additional 545 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO's holdings in McKesson were worth $2,193,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. GAMMA Investing LLC raised its position in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares in the last quarter. Nuveen LLC purchased a new stake in shares of McKesson during the 1st quarter worth $475,235,000. Wellington Management Group LLP boosted its position in shares of McKesson by 4,559.6% during the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company's stock worth $287,840,000 after purchasing an additional 418,524 shares in the last quarter. Boston Partners grew its stake in shares of McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company's stock worth $984,927,000 after purchasing an additional 365,484 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of McKesson by 92.3% in the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company's stock valued at $437,760,000 after purchasing an additional 312,473 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MCK. Cowen reiterated a "buy" rating on shares of McKesson in a research note on Thursday, August 7th. Morgan Stanley reissued an "overweight" rating and set a $810.00 price target (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Wall Street Zen cut McKesson from a "buy" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company lifted their price objective on McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. Finally, Evercore ISI boosted their target price on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $725.10.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,560 shares of company stock valued at $30,438,602 over the last three months. Corporate insiders own 0.08% of the company's stock.

McKesson Trading Down 0.2%

NYSE MCK opened at $697.05 on Tuesday. The business's 50-day moving average price is $694.76 and its 200 day moving average price is $697.18. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The company has a market capitalization of $86.70 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.39 and a beta of 0.51.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same period in the prior year, the company earned $7.88 EPS. The company's revenue was up 23.4% compared to the same quarter last year. Equities analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. This is a boost from McKesson's previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. McKesson's dividend payout ratio (DPR) is 13.08%.

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.

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