McKesson Co. (NYSE:MCK) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in shares of McKesson Co. (NYSE:MCK) by 14.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,646 shares of the company’s stock after selling 3,524 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in McKesson were worth $10,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter worth approximately $29,000. Wolff Wiese Magana LLC grew its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the 3rd quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson in the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson in the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $628.50 on Monday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company has a fifty day moving average of $542.22 and a 200-day moving average of $560.02. The stock has a market capitalization of $79.78 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.36 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the business earned $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MCK. Citigroup increased their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Leerink Partners decreased their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.