CIBC World Markets Inc. Sells 17,710 Shares of McKesson Co. (MCK)

CIBC World Markets Inc. cut its stake in McKesson Co. (NYSE:MCK) by 56.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,421 shares of the company’s stock after selling 17,710 shares during the period. CIBC World Markets Inc.’s holdings in McKesson were worth $1,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. American International Group Inc. grew its position in McKesson by 6.1% during the 3rd quarter. American International Group Inc. now owns 68,717 shares of the company’s stock worth $9,115,000 after acquiring an additional 3,978 shares during the last quarter. Brandes Investment Partners LP grew its position in McKesson by 6.1% during the 3rd quarter. Brandes Investment Partners LP now owns 772,121 shares of the company’s stock worth $102,421,000 after acquiring an additional 44,495 shares during the last quarter. Fosun International Ltd grew its position in McKesson by 257.6% during the 3rd quarter. Fosun International Ltd now owns 11,085 shares of the company’s stock worth $1,470,000 after acquiring an additional 7,985 shares during the last quarter. Seizert Capital Partners LLC grew its position in McKesson by 4.0% during the 3rd quarter. Seizert Capital Partners LLC now owns 314,019 shares of the company’s stock worth $41,655,000 after acquiring an additional 12,162 shares during the last quarter. Finally, Global Endowment Management LP grew its position in McKesson by 16.8% during the 3rd quarter. Global Endowment Management LP now owns 52,270 shares of the company’s stock worth $6,933,000 after acquiring an additional 7,500 shares during the last quarter. 89.97% of the stock is owned by institutional investors and hedge funds.

Shares of MCK opened at $124.50 on Friday. The firm has a market capitalization of $24.81 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 1.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.56 and a current ratio of 0.99. McKesson Co. has a 52 week low of $117.19 and a 52 week high of $178.86.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, October 25th. The company reported $3.60 EPS for the quarter, beating the Zacks’ consensus estimate of $3.28 by $0.32. The firm had revenue of $53.08 billion for the quarter, compared to analyst estimates of $53.56 billion. McKesson had a return on equity of 26.55% and a net margin of 0.06%. Analysts forecast that McKesson Co. will post 13.41 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be given a $0.39 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.56 annualized dividend and a dividend yield of 1.25%. McKesson’s dividend payout ratio is currently 12.36%.

A number of research analysts have commented on the company. ValuEngine lowered McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, November 16th. Mizuho reiterated a “hold” rating and issued a $133.00 price objective on shares of McKesson in a research report on Sunday, August 12th. Royal Bank of Canada set a $155.00 price objective on McKesson and gave the company a “hold” rating in a research report on Friday, October 26th. Finally, Barclays decreased their price objective on McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $150.26.

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McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

Further Reading: Futures Contract

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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