McKesson Co. (NYSE:MCK) Stock Position Lifted by Cibc World Markets Corp

Cibc World Markets Corp increased its holdings in McKesson Co. (NYSE:MCK - Free Report) by 14.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,175 shares of the company's stock after acquiring an additional 2,611 shares during the period. Cibc World Markets Corp's holdings in McKesson were worth $11,498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cibc World Market Inc. increased its holdings in McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock valued at $11,542,000 after purchasing an additional 1,207 shares during the last quarter. Commerce Bank boosted its position in McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company's stock valued at $77,516,000 after buying an additional 3,020 shares during the period. West Oak Capital LLC increased its position in shares of McKesson by 867.7% during the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock worth $1,710,000 after acquiring an additional 2,690 shares during the period. Brentview Investment Management LLC acquired a new position in McKesson during the 4th quarter worth $3,018,000. Finally, Ingalls & Snyder LLC increased its holdings in McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after purchasing an additional 1,047 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. 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 report on Friday, March 14th. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Evercore ISI increased their price target 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. Finally, Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $649.36.

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McKesson Price Performance

McKesson stock traded down $6.91 during trading hours on Friday, hitting $659.45. The stock had a trading volume of 1,969,537 shares, compared to its average volume of 836,120. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $670.79. The stock has a market capitalization of $82.65 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.29 and a beta of 0.52. The stock's fifty day moving average is $614.59 and its two-hundred day moving average is $573.65.

McKesson (NYSE:MCK - Get Free Report) last announced 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, sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued 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 dividend yield of 0.43%. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The stock was 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 approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by company insiders.

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.