McKesson Co. (NYSE:MCK) Holdings Trimmed by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in shares of McKesson Co. (NYSE:MCK) by 23.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the company’s stock after selling 775 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in McKesson were worth $1,425,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Cibc World Market Inc. boosted its position in shares of McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares during the period. Commerce Bank boosted its position in shares of McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares during the period. West Oak Capital LLC boosted its position in shares of McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after purchasing an additional 2,690 shares during the period. Brentview Investment Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at $3,018,000. Finally, Ingalls & Snyder LLC boosted its position in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

MCK opened at $602.41 on Thursday. The company has a market capitalization of $75.50 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52. The business has a 50-day moving average of $588.11 and a 200-day moving average of $562.19. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is 13.00%.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two 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 stock has an average rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,307 shares of company stock valued at $6,177,790. Insiders own 0.11% of the company’s stock.

About McKesson

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.