CIBC Private Wealth Group LLC Trims Stock Holdings in McKesson Co. (NYSE:MCK)

CIBC Private Wealth Group LLC lowered its stake in shares of McKesson Co. (NYSE:MCK) by 9.1% during the 4th quarter, HoldingsChannel reports. The fund owned 10,451 shares of the company’s stock after selling 1,052 shares during the period. CIBC Private Wealth Group LLC’s holdings in McKesson were worth $6,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in McKesson during the 4th quarter worth about $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter worth about $32,000. Crews Bank & Trust bought a new position in shares of McKesson in the fourth quarter valued at approximately $33,000. Atala Financial Inc purchased a new position in McKesson during the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC bought a new stake in McKesson during the 4th quarter worth approximately $38,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 0.2 %

NYSE MCK opened at $674.30 on Wednesday. The firm has a market cap of $84.51 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 1.29 and a beta of 0.52. The company has a 50-day simple moving average of $626.97 and a two-hundred day simple moving average of $582.06. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $678.67.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS 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%. Equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson’s payout ratio is currently 13.00%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of the business’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 transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 in the last quarter. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have given 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 $649.36.

McKesson 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.