Carmignac Gestion Has $313.53 Million Stock Holdings in McKesson Corporation $MCK

Key Points

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Carmignac Gestion reduced its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 0.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 465,876 shares of the company's stock after selling 1,727 shares during the period. McKesson makes up 5.1% of Carmignac Gestion's investment portfolio, making the stock its 3rd biggest position. Carmignac Gestion owned about 0.37% of McKesson worth $313,527,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new position in shares of McKesson in the fourth 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 purchasing an additional 18 shares during the last quarter. 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 purchasing an additional 41 shares during the last quarter. Pandora Wealth Inc. bought a new stake in shares of McKesson in the first quarter worth about $40,000. Finally, Dagco Inc. bought a new stake in shares of McKesson in the first quarter worth about $47,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

Shares of NYSE MCK opened at $670.82 on Tuesday. The firm's 50 day moving average price is $708.83 and its 200-day moving average price is $683.20. The company has a market cap of $83.44 billion, a PE ratio of 26.75, a P/E/G ratio of 1.34 and a beta of 0.50. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results 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 firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%. The company's quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.88 EPS. On average, analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. This is a positive change from McKesson's previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. McKesson's payout ratio is currently 11.32%.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $895,190.40. Following the transaction, the executive vice president owned 2,621 shares in the company, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,274 shares of company stock valued at $37,066,715 over the last quarter. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MCK shares. Bank of America raised their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company raised their target price on McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Evercore ISI raised their target price on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Finally, Cowen reiterated a "buy" rating on shares of McKesson in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $719.27.

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.

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