CANADA LIFE ASSURANCE Co Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

CANADA LIFE ASSURANCE Co reduced its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 7.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 196,430 shares of the company's stock after selling 15,745 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.15% of McKesson worth $111,805,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Millstone Evans Group LLC bought a new position in McKesson in the 4th quarter worth about $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the 4th quarter worth $32,000. Crews Bank & Trust bought a new position in shares of McKesson during the 4th quarter worth $33,000. Atala Financial Inc purchased a new position in shares of McKesson during the fourth quarter valued at $34,000. Finally, Graney & King LLC bought a new stake in shares of McKesson in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Up 1.4 %

NYSE:MCK traded up $9.55 during trading hours on Tuesday, reaching $692.04. 363,204 shares of the company were exchanged, compared to its average volume of 887,094. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The stock's 50-day moving average is $653.64 and its 200-day moving average is $602.38. The firm has a market cap of $86.73 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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, research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's dividend payout ratio is presently 13.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MCK shares. Mizuho boosted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Bank of America increased their target price on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Wells Fargo & Company raised their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Finally, Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $668.50.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on Friday, February 14th. The stock was 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 owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,110 shares of company stock worth $10,855,706. Company insiders own 0.11% of the company's stock.

About McKesson

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.