Lbp Am Sa Acquires 627 Shares of McKesson Corporation $MCK

Lbp Am Sa increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 43.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,071 shares of the company’s stock after purchasing an additional 627 shares during the period. Lbp Am Sa’s holdings in McKesson were worth $1,600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Algebris UK Ltd. bought a new position in McKesson in the 3rd quarter valued at approximately $1,278,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of McKesson by 1.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 19,881 shares of the company’s stock valued at $14,673,000 after acquiring an additional 255 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of McKesson by 2.5% during the third quarter. Whittier Trust Co. now owns 34,884 shares of the company’s stock worth $25,746,000 after purchasing an additional 855 shares during the period. Sawgrass Asset Management LLC increased its holdings in McKesson by 19.2% in the third quarter. Sawgrass Asset Management LLC now owns 535 shares of the company’s stock valued at $413,000 after purchasing an additional 86 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of McKesson by 1.1% in the 3rd quarter. CIBC Asset Management Inc now owns 64,144 shares of the company’s stock valued at $49,479,000 after buying an additional 678 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays began coverage on shares of McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 target price for the company. TD Cowen reiterated a “buy” rating on shares of McKesson in a research report on Monday, December 22nd. Jefferies Financial Group lifted their target price on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Morgan Stanley lifted their price objective on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $895.79.

McKesson Trading Up 1.0%

Shares of NYSE MCK opened at $835.21 on Wednesday. The stock has a fifty day simple moving average of $829.92 and a two-hundred day simple moving average of $772.05. McKesson Corporation has a 1-year low of $570.51 and a 1-year high of $895.58. The firm has a market cap of $103.09 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.41.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.07 EPS. Analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s payout ratio is presently 10.21%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.