National Bank of Canada FI Has $59.22 Million Stock Holdings in McKesson Co. (NYSE:MCK)

National Bank of Canada FI lowered its position in McKesson Co. (NYSE:MCK) by 26.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 125,110 shares of the company’s stock after selling 44,882 shares during the period. National Bank of Canada FI owned 0.09% of McKesson worth $59,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in McKesson during the 3rd quarter worth approximately $26,000. BKM Wealth Management LLC bought a new stake in McKesson in the 4th quarter worth about $31,000. WASHINGTON TRUST Co increased its stake in McKesson by 42.5% in the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after buying an additional 34 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in shares of McKesson during the 3rd quarter worth approximately $61,000. Finally, Orion Capital Management LLC bought a new position in shares of McKesson in the third quarter valued at approximately $63,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MCK shares. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Argus lifted their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Citigroup raised their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. UBS Group upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, SVB Leerink started coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price for the company. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $536.71.

McKesson Price Performance

MCK stock traded down $1.41 during midday trading on Friday, reaching $528.86. The company had a trading volume of 866,981 shares, compared to its average volume of 626,262. The firm has a 50-day moving average price of $530.38 and a 200-day moving average price of $492.60. The company has a market capitalization of $69.50 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $544.81.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter in the prior year, the company earned $6.90 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.