Credit Agricole S A Purchases 20,593 Shares of McKesson Corporation $MCK

Key Points

• Credit Agricole S A increased its holdings in McKesson Corporation by 136.6% to a total of $24 million, acquiring 35,666 shares in the first quarter of the year.
• McKesson's quarterly dividend has been raised from $0.71 to $0.82 per share, reflecting an annualized dividend yield of 0.5%.
• Despite a reported earnings per share of $8.26, McKesson missed analysts' consensus estimates by $0.07, though revenue exceeded expectations at $97.83 billion.

Credit Agricole S A increased its position in McKesson Corporation (NYSE:MCK - Free Report) by 136.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,666 shares of the company's stock after buying an additional 20,593 shares during the quarter. Credit Agricole S A's holdings in McKesson were worth $24,003,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of McKesson by 8.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after buying an additional 222,496 shares during the period. GAMMA Investing LLC lifted its holdings in shares of McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after buying an additional 2,389,992 shares during the period. Northern Trust Corp lifted its holdings in shares of McKesson by 0.7% in the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company's stock valued at $1,038,008,000 after buying an additional 10,179 shares during the period. Boston Partners lifted its holdings in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company's stock valued at $984,927,000 after buying an additional 365,484 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of McKesson by 9.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,103,050 shares of the company's stock valued at $628,639,000 after buying an additional 95,806 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley restated an "overweight" rating and issued a $810.00 price objective (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Evercore ISI upped 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. Cowen reaffirmed a "buy" rating on shares of McKesson in a report on Thursday, August 7th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Finally, UBS Group upped 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. One investment 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $725.10.

McKesson Stock Down 2.6%

Shares of MCK traded down $18.2950 during midday trading on Friday, reaching $687.7050. 1,217,333 shares of the stock were exchanged, compared to its average volume of 950,293. The company has a market cap of $85.54 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 1.40 and a beta of 0.50. The firm has a 50 day simple moving average of $706.69 and a 200-day simple moving average of $684.60. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 0.84% and a negative return on equity of 196.66%. The business's revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.88 EPS. Research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced 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. This is an increase from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. McKesson's payout ratio is 11.32%.

Insider Transactions at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 1,878 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $1,348,234.98. Following the sale, the chief financial officer owned 14,028 shares of the company's stock, valued at $10,070,841.48. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president directly owned 2,544 shares in the company, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,620 shares of company stock worth $39,712,388. Insiders own 0.08% of the company's stock.

McKesson Company 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.