Trust Co. of Vermont Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Trust Co. of Vermont grew its holdings in shares of McKesson Co. (NYSE:MCK) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 375 shares of the company’s stock after buying an additional 27 shares during the quarter. Trust Co. of Vermont’s holdings in McKesson were worth $185,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Distillate Capital Partners LLC grew its stake in McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares during the period. Chase Investment Counsel Corp grew its stake in McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after buying an additional 3,027 shares during the period. Wealthspire Advisors LLC lifted its position in shares of McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after purchasing an additional 133 shares in the last quarter. Councilmark Asset Management LLC acquired a new position in shares of McKesson during the first quarter worth $5,160,000. Finally, Vaughan David Investments LLC IL purchased a new position in shares of McKesson in the second quarter valued at $238,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

McKesson stock opened at $509.20 on Friday. The firm’s 50-day moving average is $521.09 and its 200-day moving average is $552.06. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The company has a market cap of $66.16 billion, a P/E ratio of 22.75, a PEG ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same period last year, the firm posted $7.27 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts predict that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Argus upped their target price on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Robert W. Baird restated a “neutral” rating and issued a $531.00 target price (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Mizuho upped their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company decreased their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

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.