6,724 Shares in McKesson Corporation (NYSE:MCK) Bought by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in McKesson Corporation, purchasing 6,724 shares valued at approximately $4,525,000.
• Hedge funds and institutional investors now own 85.07% of McKesson's stock, with notable changes in holdings from several firms in the last quarter.
• Analysts currently have a consensus Moderate Buy rating on McKesson, with an average target price of $710.17 per share.

Banque Cantonale Vaudoise purchased a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 6,724 shares of the company's stock, valued at approximately $4,525,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. GAMMA Investing LLC lifted its position in shares of McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after acquiring an additional 2,389,992 shares during the last quarter. Farallon Capital Management LLC acquired a new stake in shares of McKesson during the 4th quarter valued at $348,044,000. Marshall Wace LLP lifted its holdings in shares of McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after purchasing an additional 358,322 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new stake in shares of McKesson in the fourth quarter valued at $182,861,000. Finally, Deutsche Bank AG lifted its holdings in shares of McKesson by 64.0% in the fourth quarter. Deutsche Bank AG now owns 751,283 shares of the company's stock valued at $428,164,000 after purchasing an additional 293,148 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Evercore ISI increased their target price on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Finally, Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $710.17.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer owned 1,972 shares in the company, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company's stock, valued at $19,735,884.48. This trade represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,488 shares of company stock valued at $37,242,862 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

McKesson Stock Performance

Shares of McKesson stock traded up $4.89 during trading on Friday, reaching $698.43. The company's stock had a trading volume of 952,479 shares, compared to its average volume of 877,904. The business's fifty day moving average price is $716.92 and its 200-day moving average price is $674.88. The firm has a market cap of $87.38 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the business earned $6.18 earnings per share. Sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from McKesson's previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. McKesson's dividend payout ratio is presently 12.70%.

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.