NBT Bank N A NY Lowers Holdings in McKesson Co. (NYSE:MCK)

NBT Bank N A NY trimmed its position in McKesson Co. (NYSE:MCK) by 26.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458 shares of the company’s stock after selling 165 shares during the period. NBT Bank N A NY’s holdings in McKesson were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCK. CWA Asset Management Group LLC purchased a new position in McKesson in the 3rd quarter valued at $416,000. Assetmark Inc. grew its position in McKesson by 10.8% in the 3rd quarter. Assetmark Inc. now owns 6,884 shares of the company’s stock valued at $3,403,000 after buying an additional 670 shares during the last quarter. Axxcess Wealth Management LLC grew its position in McKesson by 198.7% in the 3rd quarter. Axxcess Wealth Management LLC now owns 2,055 shares of the company’s stock valued at $1,016,000 after buying an additional 1,367 shares during the last quarter. Baker Avenue Asset Management LP grew its position in McKesson by 34.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 557 shares of the company’s stock valued at $276,000 after buying an additional 143 shares during the last quarter. Finally, Chartwell Investment Partners LLC purchased a new stake in shares of McKesson during the 3rd quarter worth $3,856,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on MCK. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Activity

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 in the last 90 days. 0.11% of the stock is currently owned by insiders.

McKesson Trading Down 0.8 %

Shares of MCK stock opened at $653.54 on Wednesday. The firm has a 50-day moving average price of $604.12 and a 200 day moving average price of $568.96. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $663.61. The company has a market capitalization of $81.91 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its 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, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

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.