TD Asset Management Inc. Sells 3,719 Shares of McKesson Co. (NYSE:MCK)

TD Asset Management Inc. reduced its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 623,572 shares of the company's stock after selling 3,719 shares during the quarter. TD Asset Management Inc. owned 0.49% of McKesson worth $355,380,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cibc World Market Inc. lifted its stake in McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after acquiring an additional 1,207 shares in the last quarter. West Oak Capital LLC lifted its position in shares of McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock worth $1,710,000 after purchasing an additional 2,690 shares in the last quarter. Brentview Investment Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth approximately $3,018,000. Ingalls & Snyder LLC grew its position in McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after buying an additional 162,688 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The stock was 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 of the company's stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by company insiders.

Remove Ads

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Two equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $649.36.

McKesson Stock Up 0.4 %

MCK stock traded up $2.58 during mid-day trading on Friday, reaching $668.25. 566,680 shares of the stock traded hands, compared to its average volume of 837,100. The business has a 50-day moving average of $623.58 and a two-hundred day moving average of $579.34. The firm has a market capitalization of $83.75 billion, a PE ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $672.00.

McKesson (NYSE:MCK - Get Free Report) last released 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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 given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson's dividend 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.