National Bank of Canada FI Trims Stake in McKesson Co. (NYSE:MCK)

National Bank of Canada FI lessened its holdings in McKesson Co. (NYSE:MCK - Free Report) by 26.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,110 shares of the company's stock after selling 44,882 shares during the quarter. National Bank of Canada FI owned 0.09% of McKesson worth $59,217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Addison Advisors LLC grew its position in McKesson by 7.9% during the fourth quarter. Addison Advisors LLC now owns 299 shares of the company's stock worth $138,000 after buying an additional 22 shares in the last quarter. Keystone Financial Services raised its position in shares of McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company's stock valued at $552,000 after buying an additional 24 shares in the last quarter. Austin Private Wealth LLC lifted its holdings in shares of McKesson by 2.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,094 shares of the company's stock worth $506,000 after acquiring an additional 27 shares during the period. Quent Capital LLC boosted its position in shares of McKesson by 2.2% during the 4th quarter. Quent Capital LLC now owns 1,240 shares of the company's stock worth $574,000 after acquiring an additional 27 shares in the last quarter. Finally, Kanawha Capital Management LLC increased its stake in McKesson by 4.7% in the fourth quarter. Kanawha Capital Management LLC now owns 607 shares of the company's stock valued at $281,000 after acquiring an additional 27 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on McKesson from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday, April 30th. Argus boosted their target price on McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They set an "outperform" rating and a $600.00 target price for the company. StockNews.com upgraded McKesson from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Leerink Partnrs reissued an "outperform" rating on shares of McKesson in a report on Monday, February 26th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $536.71.

McKesson Stock Down 0.3 %

NYSE:MCK traded down $1.41 during midday trading on Friday, hitting $528.86. The company had a trading volume of 866,981 shares, compared to its average volume of 626,262. The stock's fifty day moving average price is $530.38 and its 200-day moving average price is $492.60. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $544.81. The company has a market capitalization of $69.50 billion, a PE ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson's dividend payout ratio (DPR) is 11.24%.

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.