Desjardins Global Asset Management Inc. Buys 5,059 Shares of McKesson Co. (NYSE:MCK)

Desjardins Global Asset Management Inc. grew its stake in shares of McKesson Co. (NYSE:MCK) by 357.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,476 shares of the company’s stock after buying an additional 5,059 shares during the period. Desjardins Global Asset Management Inc.’s holdings in McKesson were worth $2,998,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd increased its position in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after buying an additional 34 shares during the period. OFI Invest Asset Management bought a new position in shares of McKesson in the third quarter worth approximately $26,000. Legacy Financial Group LLC bought a new position in shares of McKesson in the third quarter worth approximately $27,000. Live Oak Investment Partners bought a new position in shares of McKesson in the fourth quarter worth approximately $30,000. Finally, BKM Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $31,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 1.1 %

Shares of NYSE:MCK traded up $5.74 on Tuesday, hitting $528.42. 211,809 shares of the company traded hands, compared to its average volume of 690,022. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00. The stock has a 50 day simple moving average of $523.34 and a 200-day simple moving average of $484.53. The company has a market cap of $69.44 billion, a PE ratio of 23.68, a PEG ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same period last year, the company earned $6.90 EPS. McKesson’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is 11.24%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on MCK shares. SVB Leerink started coverage on shares of McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective on the stock. Barclays started coverage on shares of McKesson in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective on the stock. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Mizuho increased their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, UBS Group increased their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $533.50.

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.