National Bank of Canada FI Sells 45,854 Shares of McKesson Co. (NYSE:MCK)

National Bank of Canada FI reduced its stake in McKesson Co. (NYSE:MCK) by 34.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,651 shares of the company’s stock after selling 45,854 shares during the quarter. National Bank of Canada FI’s holdings in McKesson were worth $51,963,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. Sachetta LLC bought a new position in McKesson in the 4th quarter worth about $27,000. LRI Investments LLC purchased a new stake in shares of McKesson during the first quarter valued at approximately $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the first quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new position in McKesson in the 4th quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. lifted its position in McKesson by 333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 600 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the sale, the executive vice president now owns 2,022 shares in the company, valued at $1,183,941.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the sale, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the sale, the executive vice president now directly owns 2,022 shares in the company, valued at $1,183,941.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,106 shares of company stock worth $4,881,001. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $514.75 on Friday. The company has a market cap of $66.88 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.29 and a beta of 0.44. The stock’s fifty day moving average price is $576.35 and its 200 day moving average price is $557.33. McKesson Co. has a 1 year low of $405.50 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the previous year, the business earned $7.27 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts expect that McKesson Co. will post 32.14 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.55%. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. Bank of America boosted their target price on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Evercore ISI cut their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Argus increased their target price on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. boosted their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Barclays increased their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $624.93.

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.