Banque Cantonale Vaudoise Has $3.95 Million Stock Position in McKesson Co. (NYSE:MCK)

Banque Cantonale Vaudoise cut its holdings in McKesson Co. (NYSE:MCK) by 17.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,992 shares of the company’s stock after selling 1,638 shares during the quarter. Banque Cantonale Vaudoise’s holdings in McKesson were worth $3,952,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of McKesson during the first quarter worth about $28,000. Wolff Wiese Magana LLC grew its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the third quarter worth about $29,000. ORG Wealth Partners LLC acquired a new position in shares of McKesson in the third quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in McKesson in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCK. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Barclays raised their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $631.57.

McKesson Trading Down 0.0 %

Shares of McKesson stock opened at $615.47 on Wednesday. The stock has a fifty day simple moving average of $524.33 and a 200 day simple moving average of $555.78. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The company has a market capitalization of $78.13 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the company earned $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, analysts predict that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

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.