Bank of Montreal Can Reduces Stock Position in McKesson Co. (NYSE:MCK)

Bank of Montreal Can reduced its stake in McKesson Co. (NYSE:MCK - Free Report) by 20.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 311,936 shares of the company's stock after selling 81,407 shares during the quarter. Bank of Montreal Can owned approximately 0.25% of McKesson worth $177,775,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Polymer Capital Management US LLC purchased a new stake in McKesson in the fourth quarter worth about $340,000. Cerity Partners LLC grew its stake in shares of McKesson by 1.6% during the 4th quarter. Cerity Partners LLC now owns 44,913 shares of the company's stock valued at $24,836,000 after acquiring an additional 689 shares during the period. Garrison Point Advisors LLC purchased a new stake in McKesson in the 4th quarter worth approximately $1,009,000. Aster Capital Management DIFC Ltd raised its stake in McKesson by 3,345.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 758 shares of the company's stock worth $432,000 after acquiring an additional 736 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its holdings in McKesson by 9.8% during the fourth quarter. Peapack Gladstone Financial Corp now owns 8,903 shares of the company's stock valued at $5,074,000 after purchasing an additional 792 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by company insiders.

Remove Ads

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCK. Morgan Stanley increased their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Wells Fargo & Company upped their price objective on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Finally, Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average price target of $668.50.

McKesson Trading Up 1.6 %

MCK traded up $11.10 during trading hours on Friday, hitting $690.43. The company's stock had a trading volume of 841,601 shares, compared to its average volume of 881,074. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The business's 50-day moving average price is $642.70 and its 200-day moving average price is $593.86. The stock has a market cap of $86.53 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's payout ratio is 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.