CIBC Asset Management Inc Sells 26,753 Shares of McKesson Co. (NYSE:MCK)

CIBC Asset Management Inc cut its position in McKesson Co. (NYSE:MCK - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,784 shares of the company's stock after selling 26,753 shares during the period. CIBC Asset Management Inc owned about 0.06% of McKesson worth $40,284,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Human Investing LLC bought a new stake in shares of McKesson during the fourth quarter worth $115,000. Principal Financial Group Inc. increased its position in shares of McKesson by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 284,648 shares of the company's stock worth $162,224,000 after acquiring an additional 7,515 shares in the last quarter. Americana Partners LLC bought a new stake in shares of McKesson during the fourth quarter worth $206,000. Capital Performance Advisors LLP increased its position in shares of McKesson by 1,155.2% during the fourth quarter. Capital Performance Advisors LLP now owns 364 shares of the company's stock worth $208,000 after acquiring an additional 335 shares in the last quarter. Finally, Keystone Financial Services increased its position in shares of McKesson by 2.7% during the fourth quarter. Keystone Financial Services now owns 1,387 shares of the company's stock worth $791,000 after acquiring an additional 37 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 0.2 %

Shares of MCK traded up $0.94 during midday trading on Thursday, reaching $603.68. The stock had a trading volume of 611,124 shares, compared to its average volume of 747,804. The firm has a 50 day simple moving average of $588.11 and a 200-day simple moving average of $562.19. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The firm has a market cap of $75.66 billion, a PE ratio of 27.64, a P/E/G ratio of 1.28 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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%. As a group, research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio is presently 13.00%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated 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 in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company's stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,307 shares of company stock worth $6,177,790. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective for the company. Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Wells Fargo & Company raised their target price on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Finally, Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and an average target price of $645.79.

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.