Bank of Nova Scotia Buys 3,447 Shares of McKesson Co. (NYSE:MCK)

Bank of Nova Scotia boosted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 19.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,734 shares of the company's stock after acquiring an additional 3,447 shares during the period. Bank of Nova Scotia's holdings in McKesson were worth $11,817,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new stake in McKesson in the 4th quarter valued at $28,000. Synergy Asset Management LLC acquired a new position in McKesson in the fourth quarter worth about $32,000. Crews Bank & Trust acquired a new position in McKesson in the fourth quarter worth about $33,000. Atala Financial Inc bought a new position in McKesson during the fourth quarter worth about $34,000. Finally, Graney & King LLC acquired a new stake in McKesson during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Performance

McKesson stock traded down $1.55 during trading hours on Tuesday, reaching $692.43. 495,510 shares of the company's stock traded hands, compared to its average volume of 881,256. The firm has a market capitalization of $86.78 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32. The firm's 50 day moving average is $644.47 and its 200-day moving average is $595.30.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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%. Analysts predict that McKesson Co. will post 32.77 EPS for the current year.

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McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued 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 (DPR) is currently 13.00%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 in the last ninety days. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MCK shares. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Bank of America lifted their price objective on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a report on Friday. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Morgan Stanley increased their price target on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $668.50.

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.