Mackenzie Financial Corp Sells 19,493 Shares of McKesson Co. (NYSE:MCK)

Mackenzie Financial Corp lessened its stake in McKesson Co. (NYSE:MCK - Free Report) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 379,322 shares of the company's stock after selling 19,493 shares during the quarter. Mackenzie Financial Corp owned 0.30% of McKesson worth $216,179,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its position in shares of McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after acquiring an additional 222,496 shares in the last quarter. Geode Capital Management LLC increased its position in McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after buying an additional 10,015 shares during the period. Franklin Resources Inc. increased its position in McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after buying an additional 114,396 shares during the period. Norges Bank acquired a new position in McKesson during the fourth quarter worth approximately $1,200,361,000. Finally, Northern Trust Corp increased its position in McKesson by 9.0% during the fourth quarter. Northern Trust Corp now owns 1,532,203 shares of the company's stock worth $873,218,000 after buying an additional 126,940 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 1,248 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president now directly owns 2,621 shares in the company, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the sale, the chief financial officer now owns 14,760 shares in the company, valued at approximately $10,587,348. The trade was a 30.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,127 shares of company stock valued at $5,834,498. Insiders own 0.11% of the company's stock.

McKesson Price Performance

McKesson stock traded up $3.77 during midday trading on Tuesday, reaching $719.86. The stock had a trading volume of 814,448 shares, compared to its average volume of 919,027. The firm's fifty day simple moving average is $690.91 and its two-hundred day simple moving average is $635.19. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00. The firm has a market cap of $90.06 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results 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. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the company posted $6.18 earnings per share. McKesson's revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Finally, Wells Fargo & Company boosted 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. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.

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.