McKesson Co. (NYSE:MCK) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its position in McKesson Co. (NYSE:MCK) by 17.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,180 shares of the company’s stock after selling 16,252 shares during the period. National Bank of Canada FI owned about 0.06% of McKesson worth $43,995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MCK. Millstone Evans Group LLC purchased a new position in shares of McKesson during the 4th quarter worth $28,000. Synergy Asset Management LLC acquired a new position in McKesson in the fourth quarter valued at $32,000. Crews Bank & Trust purchased a new position in McKesson during the fourth quarter worth about $33,000. Atala Financial Inc acquired a new stake in McKesson in the 4th quarter worth about $34,000. Finally, Graney & King LLC purchased a new stake in McKesson in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $694.12 on Thursday. The firm’s fifty day moving average price is $629.16 and its 200 day moving average price is $582.85. The company has a market capitalization of $86.99 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $695.46.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson’s dividend payout ratio is presently 13.00%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the 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 transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock worth $10,855,706 in the last ninety days. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Morgan Stanley upped their price objective on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $656.71.

About McKesson

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.