Commerce Bank Has $77.52 Million Stock Position in McKesson Co. (NYSE:MCK)

Commerce Bank boosted its position in McKesson Co. (NYSE:MCK) by 2.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 156,781 shares of the company’s stock after acquiring an additional 3,020 shares during the quarter. Commerce Bank’s holdings in McKesson were worth $77,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Segall Bryant & Hamill LLC grew its holdings in McKesson by 50.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 64,721 shares of the company’s stock valued at $31,999,000 after buying an additional 21,760 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of McKesson in the third quarter worth $2,148,000. Fifth Third Wealth Advisors LLC increased its position in McKesson by 5.2% during the third quarter. Fifth Third Wealth Advisors LLC now owns 722 shares of the company’s stock worth $357,000 after acquiring an additional 36 shares during the period. BIP Wealth LLC raised its stake in McKesson by 20.5% during the 3rd quarter. BIP Wealth LLC now owns 3,122 shares of the company’s stock valued at $1,544,000 after purchasing an additional 531 shares during the last quarter. Finally, Prospera Financial Services Inc raised its stake in McKesson by 5.5% during the 3rd quarter. Prospera Financial Services Inc now owns 2,559 shares of the company’s stock valued at $1,267,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MCK. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Mizuho upped their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Citigroup boosted their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Stock Down 0.0 %

Shares of MCK opened at $615.47 on Wednesday. The stock’s fifty day simple moving average is $524.33 and its 200-day simple moving average is $555.78. The firm has a market capitalization of $78.13 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm earned $6.23 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts anticipate that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

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.