iA Global Asset Management Inc. Sells 4,513 Shares of McKesson Co. (NYSE:MCK)

iA Global Asset Management Inc. trimmed its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 65.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,419 shares of the company's stock after selling 4,513 shares during the period. iA Global Asset Management Inc.'s holdings in McKesson were worth $1,196,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson during the third quarter valued at $31,000. ORG Wealth Partners LLC bought a new stake in McKesson in the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in McKesson in the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares of the company's stock, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCK. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a report on Friday, September 13th. Finally, Citigroup upped their price target on shares of McKesson from $630.00 to $713.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. 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's stock. Based on data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and a consensus price target of $635.86.

McKesson Stock Down 1.3 %

McKesson stock traded down $7.83 during midday trading on Tuesday, reaching $584.07. The stock had a trading volume of 703,920 shares, compared to its average volume of 817,266. The firm has a market cap of $74.14 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The company has a fifty day moving average of $556.78 and a 200 day moving average of $562.15.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the business posted $6.23 earnings per share. The company's revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd 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 0.49%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio is currently 14.71%.

McKesson 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.