McKesson Co. (NYSE:MCK) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 421,621 shares of the company's stock after selling 7,280 shares during the quarter. Mackenzie Financial Corp owned approximately 0.32% of McKesson worth $195,202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Covestor Ltd boosted its position in shares of McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company's stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. OFI Invest Asset Management bought a new position in McKesson during the third quarter valued at $26,000. Legacy Financial Group LLC purchased a new position in shares of McKesson in the 3rd quarter worth $27,000. Live Oak Investment Partners purchased a new stake in shares of McKesson during the 4th quarter valued at about $30,000. Finally, BKM Wealth Management LLC bought a new position in shares of McKesson in the 4th quarter valued at about $31,000. Institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MCK shares. Morgan Stanley upped their price objective on McKesson from $522.00 to $548.00 and gave the company an "overweight" rating in a research report on Monday. UBS Group raised their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Mizuho lifted their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. SVB Leerink began coverage on McKesson in a research report on Monday, February 26th. They set an "outperform" rating and a $600.00 target price for the company. Finally, Citigroup increased their price target on McKesson from $530.00 to $575.00 and gave the stock a "buy" rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $533.50.

McKesson Stock Down 0.1 %

Shares of NYSE MCK traded down $0.33 during mid-day trading on Monday, reaching $522.68. 365,041 shares of the company were exchanged, compared to its average volume of 696,831. The firm has a 50-day moving average of $523.05 and a 200 day moving average of $483.96. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00. The stock has a market cap of $68.68 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts' consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion for the quarter, compared to analysts' expectations of $77.93 billion. During the same period last year, the business earned $6.90 EPS. The company's revenue was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson's dividend payout ratio is currently 11.24%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

McKesson 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.