Canandaigua National Bank & Trust Co. Sells 95 Shares of McKesson Co. (NYSE:MCK)

Canandaigua National Bank & Trust Co. cut its position in McKesson Co. (NYSE:MCK) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,800 shares of the company’s stock after selling 95 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in McKesson were worth $2,166,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wolff Wiese Magana LLC raised its stake in 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 acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the third quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new position in McKesson in the 3rd quarter worth approximately $40,000. Finally, Centennial Bank AR purchased a new position in McKesson in the 2nd quarter valued at approximately $53,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.5 %

Shares of NYSE MCK traded up $2.90 during trading hours on Monday, reaching $580.34. 836,004 shares of the stock traded hands, compared to its average volume of 589,949. The company’s 50-day simple moving average is $584.70 and its two-hundred day simple moving average is $561.54. The company has a market capitalization of $73.67 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCK. Evercore ISI raised their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup lifted their target price on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Bank of America cut their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $648.71.

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.