Mackenzie Financial Corp Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

Mackenzie Financial Corp cut its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (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 Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Cibc World Market Inc. boosted its holdings in McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock valued at $11,542,000 after acquiring an additional 1,207 shares during the period. Brentview Investment Management LLC purchased a new stake in McKesson during the 4th quarter valued at about $3,018,000. Ingalls & Snyder LLC boosted its holdings in McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after acquiring an additional 1,047 shares during the period. Chicago Partners Investment Group LLC raised its position in McKesson by 85.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock valued at $745,000 after purchasing an additional 580 shares during the last quarter. Finally, Blue Trust Inc. raised its position in McKesson by 6.4% during the 4th quarter. Blue Trust Inc. now owns 7,830 shares of the company's stock valued at $4,462,000 after purchasing an additional 468 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MCK. Wells Fargo & Company upped their price target on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Mizuho raised 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. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. UBS Group lifted their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $686.69.

McKesson Stock Down 0.1%

MCK traded down $0.78 during trading on Thursday, reaching $711.36. The company's stock had a trading volume of 220,831 shares, compared to its average volume of 914,258. The firm has a fifty day simple moving average of $693.02 and a two-hundred day simple moving average of $636.30. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $731.00. The company has a market cap of $89.00 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period last year, the company posted $6.18 EPS. The business's revenue was up 18.9% on a year-over-year basis. As a group, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is presently 10.99%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of the business'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 completion of the transaction, the executive vice president now owns 2,621 shares in the company, valued at $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business'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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,127 shares of company stock valued at $5,834,498. 0.11% of the stock is currently 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.