McKesson Corporation $MCK Holdings Lifted by Banque Transatlantique SA

Key Points

• Banque Transatlantique SA significantly increased its position in McKesson Corporation by 14,660.0% in the first quarter, bringing its holdings to a value of $1.38 million.
• McKesson's recent earnings report showed a revenue of $97.83 billion this quarter, up 23.4% year-over-year, although it missed EPS estimates by ($0.07).
• The company announced an increased quarterly dividend of $0.82 per share, representing a positive change from previous dividends and a yield of 0.5%.

Banque Transatlantique SA raised its position in McKesson Corporation (NYSE:MCK - Free Report) by 14,660.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,214 shares of the company's stock after purchasing an additional 2,199 shares during the quarter. Banque Transatlantique SA's holdings in McKesson were worth $1,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its position in McKesson by 5.9% in the first quarter. Alliancebernstein L.P. now owns 905,629 shares of the company's stock valued at $609,479,000 after purchasing an additional 50,297 shares during the period. AQR Capital Management LLC increased its position in shares of McKesson by 3.5% during the first quarter. AQR Capital Management LLC now owns 954,710 shares of the company's stock worth $642,511,000 after acquiring an additional 32,530 shares during the period. Atalanta Sosnoff Capital LLC raised its stake in McKesson by 78.9% in the first quarter. Atalanta Sosnoff Capital LLC now owns 131,157 shares of the company's stock valued at $88,267,000 after buying an additional 57,837 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in McKesson in the first quarter valued at $34,244,000. Finally, Amundi grew its holdings in shares of McKesson by 3.5% during the first quarter. Amundi now owns 660,196 shares of the company's stock worth $473,314,000 after purchasing an additional 22,175 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Down 0.6%

Shares of McKesson stock traded down $4.42 during trading on Friday, hitting $687.03. 472,767 shares of the company were exchanged, compared to its average volume of 808,316. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The stock has a market capitalization of $85.46 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.37 and a beta of 0.51. The firm has a 50 day moving average price of $699.12 and a 200 day moving average price of $691.13.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company's revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.88 earnings per share. Analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. This is an increase from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio (DPR) is presently 13.08%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares in the company, valued at $19,735,884.48. The trade was a 41.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,560 shares of company stock worth $30,438,602 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.