Bank of Montreal Can Lowers Position in McKesson Co. (NYSE:MCK)

Bank of Montreal Can decreased its position in shares of McKesson Co. (NYSE:MCK) by 20.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 311,936 shares of the company’s stock after selling 81,407 shares during the period. Bank of Montreal Can owned about 0.25% of McKesson worth $177,775,000 at the end of the most recent quarter.

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

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $661.00.

McKesson Stock Performance

Shares of NYSE:MCK opened at $661.26 on Tuesday. The firm has a market cap of $82.87 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The business has a 50-day simple moving average of $634.52 and a two-hundred day simple moving average of $587.00. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

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.