Cibc World Markets Corp Purchases 9,734 Shares of McKesson Co. (NYSE:MCK)

Cibc World Markets Corp lifted its position in McKesson Co. (NYSE:MCKFree Report) by 130.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,180 shares of the company’s stock after purchasing an additional 9,734 shares during the quarter. Cibc World Markets Corp’s holdings in McKesson were worth $7,954,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. WealthPlan Investment Management LLC purchased a new position in McKesson in the third quarter worth $529,000. Oppenheimer Asset Management Inc. increased its position in shares of McKesson by 34.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,702 shares of the company’s stock valued at $740,000 after purchasing an additional 438 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of McKesson by 4.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 33,072 shares of the company’s stock valued at $14,381,000 after buying an additional 1,356 shares in the last quarter. D.A. Davidson & CO. lifted its position in McKesson by 14.4% in the 3rd quarter. D.A. Davidson & CO. now owns 2,784 shares of the company’s stock worth $1,211,000 after buying an additional 350 shares during the last quarter. Finally, AMG National Trust Bank grew its position in McKesson by 1.2% during the third quarter. AMG National Trust Bank now owns 3,508 shares of the company’s stock valued at $1,525,000 after acquiring an additional 41 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other 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 value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred 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 completion of the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $498,315.60. Following the completion of the sale, the chief financial officer now owns 16,455 shares in the company, valued at approximately $9,172,017. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,204 shares of company stock valued at $15,699,113. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft reduced their price target on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Argus increased their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. TD Cowen lifted their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, SVB Leerink assumed coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $571.47.

View Our Latest Report on MCK

McKesson Trading Up 1.1 %

NYSE:MCK opened at $585.93 on Friday. McKesson Co. has a 12 month low of $383.82 and a 12 month high of $587.23. The company has a 50-day moving average price of $544.73 and a 200-day moving average price of $509.44. The stock has a market cap of $76.17 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 1.36 and a beta of 0.47.

McKesson (NYSE:MCKGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter last year, the business earned $7.19 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts forecast that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.42%. McKesson’s payout ratio is 11.08%.

McKesson Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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