McKesson Co. (NYSE:MCK) Shares Sold by Unigestion Holding SA

Unigestion Holding SA trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 73.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,750 shares of the company’s stock after selling 60,300 shares during the period. Unigestion Holding SA’s holdings in McKesson were worth $10,739,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new position in McKesson during the 3rd quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in McKesson in the second quarter worth $52,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 1.3 %

Shares of NYSE MCK opened at $584.07 on Wednesday. The firm has a 50-day moving average of $556.78 and a two-hundred day moving average of $562.15. The company has a market capitalization of $74.14 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 1.30 and a beta of 0.49. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the firm earned $6.23 earnings per share. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, research analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MCK. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Citigroup raised their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Wells Fargo & Company cut their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $635.86.

McKesson 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.