Scotia Capital Inc. Sells 13,247 Shares of McKesson Co. (NYSE:MCK)

Scotia Capital Inc. trimmed its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 37.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,224 shares of the company's stock after selling 13,247 shares during the period. Scotia Capital Inc.'s holdings in McKesson were worth $12,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after acquiring an additional 10,015 shares during the period. Franklin Resources Inc. lifted its stake in shares of McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after buying an additional 114,396 shares during the period. Norges Bank acquired a new position in McKesson in the 4th quarter valued at approximately $1,200,361,000. Boston Partners grew its holdings in shares of McKesson by 24.6% during the 4th quarter. Boston Partners now owns 1,096,301 shares of the company's stock worth $625,501,000 after purchasing an additional 216,432 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after purchasing an additional 162,688 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

MCK has been the topic of a number of analyst reports. Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Bank of America upped their target price on shares of McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research report on Friday. 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. According to data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus target price of $668.50.

McKesson Price Performance

NYSE MCK traded down $1.55 on Tuesday, hitting $692.43. 670,494 shares of the stock were exchanged, compared to its average volume of 881,256. The business's fifty day moving average is $644.47 and its 200 day moving average is $595.30. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The company has a market capitalization of $86.78 billion, a PE ratio of 31.70, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts predict 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 was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio is currently 13.00%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction that occurred 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 directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 in the last 90 days. Company insiders own 0.11% of the company's stock.

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.