Swiss National Bank Has $240.96 Million Holdings in McKesson Corporation (NYSE:MCK)

Key Points

• Swiss National Bank has reduced its holdings in McKesson Corporation by 2.3%, selling 8,300 shares, while still owning 358,050 shares valued at approximately $240.96 million.
• McKesson plans to pay a quarterly dividend of $0.82 per share on October 1st, an increase from the previous dividend of $0.71, reflecting a 0.5% yield.
• Recent analyst ratings show a general positive outlook for McKesson, with twelve "buy" ratings and an average price target of $710.17 for the stock.

Swiss National Bank decreased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 358,050 shares of the company's stock after selling 8,300 shares during the period. Swiss National Bank owned approximately 0.29% of McKesson worth $240,964,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its position in McKesson by 54.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after buying an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of McKesson by 16.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after buying an additional 111 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in McKesson by 18.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after purchasing an additional 3,659 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in McKesson by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after purchasing an additional 7,556 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of McKesson by 12.8% in the first quarter. LPL Financial LLC now owns 155,946 shares of the company's stock worth $104,950,000 after purchasing an additional 17,750 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president directly owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction dated 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 represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,817 shares of company stock worth $37,461,210. 0.08% of the stock is owned by insiders.

McKesson Trading Down 1.7%

NYSE:MCK traded down $11.27 during trading hours on Tuesday, hitting $661.50. 946,430 shares of the stock traded hands, compared to its average volume of 894,214. The firm has a 50 day moving average price of $713.17 and a 200 day moving average price of $680.90. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The firm has a market cap of $82.28 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.32 and a beta of 0.50.

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

McKesson Increases Dividend

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

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. UBS Group upped their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley reiterated an "overweight" rating and issued a $810.00 price target (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Cowen restated a "buy" rating on shares of McKesson in a research note on Thursday. Finally, Bank of America raised their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $718.73.

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.