Cibc World Markets Corp Purchases 2,611 Shares of McKesson Co. (NYSE:MCK)

Cibc World Markets Corp boosted its position in shares of McKesson Co. (NYSE:MCK) by 14.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,175 shares of the company’s stock after purchasing an additional 2,611 shares during the quarter. Cibc World Markets Corp’s holdings in McKesson were worth $11,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter valued at about $29,000. Crews Bank & Trust bought a new stake in shares of McKesson in the 4th quarter valued at about $33,000. Atala Financial Inc bought a new stake in McKesson during the 4th quarter worth approximately $34,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in McKesson during the 3rd quarter worth approximately $31,000. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Wells Fargo & Company upped their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two equities 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. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Trading Up 0.8 %

Shares of McKesson stock opened at $655.32 on Tuesday. The stock has a fifty day simple moving average of $610.04 and a 200 day simple moving average of $571.65. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $663.62. The company has a market capitalization of $82.13 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio is presently 13.00%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction 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 sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by company insiders.

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.