M&T Bank Corp Sells 2,196 Shares of McKesson Co. (NYSE:MCK)

M&T Bank Corp lessened its holdings in McKesson Co. (NYSE:MCK) by 6.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 31,034 shares of the company’s stock after selling 2,196 shares during the period. M&T Bank Corp’s holdings in McKesson were worth $17,687,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MCK. MidAtlantic Capital Management Inc. bought a new position in McKesson in the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new position in McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust bought a new position in McKesson in the 4th quarter valued at approximately $33,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson in the 4th quarter valued at approximately $44,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.5 %

Shares of MCK stock opened at $640.39 on Thursday. The company has a market cap of $80.26 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $653.92. The firm has a 50 day moving average of $598.01 and a 200-day moving average of $566.15.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,268 shares of company stock valued at $11,536,378. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MCK. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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.