Canandaigua National Bank & Trust Co. Sells 392 Shares of McKesson Corporation (NYSE:MCK)

Canandaigua National Bank & Trust Co. lessened its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 10.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,408 shares of the company's stock after selling 392 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in McKesson were worth $2,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. grew its stake in McKesson by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after purchasing an additional 222,496 shares during the period. Geode Capital Management LLC grew its stake in shares of McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after acquiring an additional 10,015 shares during the period. Franklin Resources Inc. grew its stake in shares of McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the period. GAMMA Investing LLC grew its stake in shares of McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares during the period. Finally, Norges Bank bought a new position in shares of McKesson during the 4th quarter worth $1,200,361,000. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK opened at $725.99 on Monday. The firm has a market cap of $90.83 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.45 and a beta of 0.49. The stock has a 50 day simple moving average of $711.19 and a two-hundred day simple moving average of $653.10. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $736.36.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.18 earnings per share. On average, equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is 10.99%.

Analyst Upgrades and Downgrades

MCK has been the subject of several research reports. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Morgan Stanley increased their price objective on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Bank of America increased their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $696.42.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the transaction, the chief executive officer now directly owns 51,243 shares of the company's stock, valued at $36,173,970.99. This represents a 27.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock valued at $23,526,451 over the last quarter. 0.08% of the stock is owned by company insiders.

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.

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