TD Waterhouse Canada Inc. Sells 8,898 Shares of McKesson Co. (NYSE:MCK)

TD Waterhouse Canada Inc. cut its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 30.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,162 shares of the company's stock after selling 8,898 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in McKesson were worth $11,483,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after buying an additional 10,015 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after acquiring an additional 114,396 shares in the last quarter. Norges Bank acquired a new position in shares of McKesson during the fourth quarter worth approximately $1,200,361,000. Boston Partners lifted its holdings in shares of McKesson by 24.6% in 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 stake in McKesson by 20.0% during the 4th 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 in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

MCK stock traded up $6.19 during midday trading on Friday, reaching $694.62. 731,510 shares of the company's stock traded hands, compared to its average volume of 891,095. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The company has a 50-day moving average price of $659.36 and a two-hundred day moving average price of $605.06. The firm has a market capitalization of $87.05 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last issued its 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's dividend payout ratio is presently 13.00%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. 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 three months. Company insiders own 0.11% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. 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 report on Friday, April 11th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Morgan Stanley boosted their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.