AG2R LA Mondiale Gestion D Actifs Acquires Shares of 4,708 McKesson Corporation $MCK

Key Points

• AG2R LA Mondiale Gestion D Actifs has invested approximately $3.39 million in McKesson Corporation, acquiring 4,708 shares during the first quarter.
• McKesson recently declared a dividend increase from $0.71 to $0.82 per share, which will be paid on October 1st to shareholders of record on September 2nd.
• The company reported a revenue increase of 23.4% year-over-year, reaching $97.83 billion for the latest quarter, although its earnings per share fell short of analyst expectations.

AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,708 shares of the company's stock, valued at approximately $3,387,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in McKesson during the 4th quarter valued at about $26,000. Bank of Jackson Hole Trust grew its stake in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after acquiring an additional 18 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after acquiring an additional 41 shares during the period. Saudi Central Bank bought a new stake in shares of McKesson in the first quarter worth approximately $34,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of McKesson in the first quarter worth approximately $39,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Morgan Stanley reiterated an "overweight" rating and issued a $810.00 price target (up from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Cowen reiterated a "buy" rating on shares of McKesson in a research note on Thursday, August 7th. Wells Fargo & Company lifted their price target on shares of McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $725.10.

McKesson Price Performance

Shares of MCK stock traded down $2.01 during mid-day trading on Thursday, hitting $690.23. The company had a trading volume of 174,683 shares, compared to its average volume of 867,523. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89. The stock's 50 day moving average price is $695.83 and its 200-day moving average price is $695.37. The company has a market capitalization of $85.85 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.38 and a beta of 0.51.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to analysts' expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson's quarterly revenue was up 23.4% compared to the same quarter last year. During the same period last year, the firm posted $7.88 EPS. On average, equities research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. McKesson's payout ratio is currently 13.08%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 11,930 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares of the company's stock, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is owned by insiders.

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.