McKesson Co. (NYSE:MCK) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its position in shares of McKesson Co. (NYSE:MCK) by 17.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 393,343 shares of the company’s stock after selling 80,861 shares during the quarter. Bank of Montreal Can owned about 0.31% of McKesson worth $192,050,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MCK. LRI Investments LLC bought a new position in McKesson in the 1st quarter worth approximately $28,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter worth $29,000. Wolff Wiese Magana LLC grew its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the third quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson during the second quarter valued at about $52,000. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Trading Down 1.0 %

NYSE:MCK opened at $616.72 on Tuesday. The firm has a market capitalization of $78.29 billion, a PE ratio of 31.94, a PEG ratio of 1.35 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm’s fifty day simple moving average is $532.91 and its 200 day simple moving average is $557.99.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.23 earnings per share. As a group, analysts anticipate that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio is currently 14.71%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays boosted their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Citigroup boosted their target price on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. upped their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $631.57.

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.