McKesson Co. (NYSE:MCK) Stock Holdings Trimmed by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its position in McKesson Co. (NYSE:MCK) by 27.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 70,784 shares of the company’s stock after selling 26,753 shares during the period. CIBC Asset Management Inc’s holdings in McKesson were worth $40,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of McKesson by 2.1% during the 3rd quarter. Creative Planning now owns 63,328 shares of the company’s stock valued at $31,064,000 after buying an additional 1,316 shares during the last quarter. Trust Co. of Vermont raised its position in shares of McKesson by 7.8% during the 3rd quarter. Trust Co. of Vermont now owns 375 shares of the company’s stock worth $185,000 after purchasing an additional 27 shares during the period. V Square Quantitative Management LLC boosted its position in McKesson by 27.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,129 shares of the company’s stock valued at $558,000 after purchasing an additional 240 shares during the period. Stratos Wealth Advisors LLC grew its stake in McKesson by 10.4% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,033 shares of the company’s stock worth $511,000 after buying an additional 97 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its stake in shares of McKesson by 5.4% in the third quarter. First Citizens Bank & Trust Co. now owns 1,841 shares of the company’s stock valued at $910,000 after purchasing an additional 95 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCK. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Morgan Stanley boosted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 1,346 shares of company stock valued at $795,275 in the last three months. Insiders own 0.11% of the company’s stock.

McKesson Trading Down 1.4 %

Shares of McKesson stock opened at $593.82 on Monday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The stock has a 50-day moving average price of $587.26 and a 200 day moving average price of $562.38. The company has a market cap of $75.38 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities analysts forecast that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

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.