Park National Corp OH Has $10.79 Million Holdings in McKesson Co. (NYSE:MCK)

Park National Corp OH lessened its position in McKesson Co. (NYSE:MCK - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,035 shares of the company's stock after selling 817 shares during the quarter. Park National Corp OH's holdings in McKesson were worth $10,791,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at $26,000. Millstone Evans Group LLC purchased a new stake in McKesson in the 4th quarter worth about $28,000. Synergy Asset Management LLC purchased a new stake in McKesson in the 4th quarter worth about $32,000. Crews Bank & Trust purchased a new stake in McKesson in the 4th quarter worth about $33,000. Finally, Atala Financial Inc purchased a new stake in McKesson in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Britt J. Vitalone sold 1,878 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the transaction, the chief financial officer now directly owns 14,028 shares of the company's stock, valued at approximately $10,070,841.48. This represents a 11.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,856 shares of company stock worth $7,793,675. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of MCK stock traded up $6.99 on Friday, hitting $719.85. The company's stock had a trading volume of 1,322,227 shares, compared to its average volume of 917,774. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00. The firm's fifty day moving average price is $695.18 and its 200-day moving average price is $637.67. The stock has a market capitalization of $90.06 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 1.29 and a beta of 0.53.

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

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio (DPR) is currently 10.99%.

Analysts Set New Price Targets

Several analysts recently commented on MCK shares. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their target price on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Mizuho lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Morgan Stanley lifted their target price on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $686.69.

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.