McKesson Co. (NYSE:MCK) Shares Bought by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA boosted its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 423.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,298 shares of the company's stock after acquiring an additional 22,889 shares during the quarter. Union Bancaire Privee UBP SA's holdings in McKesson were worth $18,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MCK. Capital A Wealth Management LLC purchased a new stake in McKesson during the 4th quarter valued at about $26,000. Millstone Evans Group LLC purchased a new stake in McKesson during the 4th quarter valued at about $28,000. Atala Financial Inc purchased a new stake in McKesson during the 4th quarter valued at about $34,000. Graney & King LLC purchased a new stake in McKesson during the 4th quarter valued at about $38,000. Finally, Creative Capital Management Investments LLC purchased a new stake in McKesson during the 4th quarter valued at about $44,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of McKesson stock traded down $3.65 during trading hours on Friday, hitting $727.15. The company's stock had a trading volume of 518,101 shares, compared to its average volume of 920,809. The business has a 50 day moving average price of $703.28 and a two-hundred day moving average price of $644.50. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $732.99. The company has a market cap of $90.98 billion, a PE ratio of 33.29, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same period in the previous year, the business earned $6.18 earnings per share. The business's revenue was up 18.9% on a year-over-year basis. As a group, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson's dividend payout ratio (DPR) is 10.99%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 341 shares of the business'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 $244,807.31. Following the completion of the sale, the executive vice president now owns 2,800 shares in the company, valued at approximately $2,010,148. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock valued at $23,526,451 over the last ninety days. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MCK has been the subject of several research analyst reports. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. 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 note on Friday, May 9th. UBS Group raised their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $694.38.

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.