Parkside Financial Bank & Trust Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Parkside Financial Bank & Trust trimmed its position in McKesson Co. (NYSE:MCK) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 447 shares of the company’s stock after selling 20 shares during the quarter. Parkside Financial Bank & Trust’s holdings in McKesson were worth $255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the third quarter valued at approximately $31,000. Synergy Asset Management LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust purchased a new stake in McKesson in the fourth quarter valued at approximately $33,000. Finally, Creative Capital Management Investments LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of McKesson stock opened at $640.82 on Friday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $641.70. The stock has a market capitalization of $80.31 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 1.29 and a beta of 0.52. The company’s 50 day moving average price is $594.13 and its 200-day moving average price is $564.17.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company increased their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,268 shares of company stock worth $11,536,378 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

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.