Banque Cantonale Vaudoise Trims Stock Holdings in McKesson Co. (NYSE:MCK)

Banque Cantonale Vaudoise reduced its position in McKesson Co. (NYSE:MCK) by 22.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,097 shares of the company’s stock after selling 886 shares during the quarter. Banque Cantonale Vaudoise’s holdings in McKesson were worth $1,323,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Covestor Ltd lifted its position in McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. lifted its position in McKesson by 313.3% during the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 62 shares of the company’s stock valued at $26,000 after purchasing an additional 47 shares during the last quarter. Live Oak Investment Partners bought a new stake in McKesson during the fourth quarter valued at approximately $30,000. Capital Advisors Ltd. LLC lifted its position in McKesson by 1,700.0% during the second quarter. Capital Advisors Ltd. LLC now owns 90 shares of the company’s stock valued at $38,000 after purchasing an additional 85 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in shares of McKesson in the 2nd quarter worth approximately $41,000. 82.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MCK. UBS Group boosted their price objective on shares of McKesson from $470.00 to $480.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Evercore ISI boosted their price objective on shares of McKesson from $485.00 to $490.00 in a report on Wednesday, October 11th. Morgan Stanley boosted their price objective on shares of McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Argus lifted their target price on shares of McKesson from $450.00 to $480.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Finally, Mizuho lifted their target price on shares of McKesson from $427.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $469.09.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 25,246 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $422.58, for a total transaction of $10,668,454.68. Following the completion of the sale, the chief executive officer now directly owns 92,654 shares in the company, valued at $39,153,727.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brian S. Tyler sold 25,246 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $422.58, for a total transaction of $10,668,454.68. Following the completion of the sale, the chief executive officer now directly owns 92,654 shares in the company, valued at $39,153,727.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 660 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $461.26, for a total transaction of $304,431.60. Following the sale, the executive vice president now owns 1,325 shares of the company’s stock, valued at $611,169.50. The disclosure for this sale can be found here. Insiders sold 69,082 shares of company stock worth $30,258,690 over the last three months. 0.21% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of McKesson stock opened at $453.82 on Wednesday. The stock has a market capitalization of $61.22 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.65 and a beta of 0.56. McKesson Co. has a 52-week low of $331.75 and a 52-week high of $473.18. The company has a 50-day simple moving average of $445.27 and a two-hundred day simple moving average of $419.86.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 1st. The company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.11 by $0.12. McKesson had a net margin of 1.20% and a negative return on equity of 241.79%. The business had revenue of $77.22 billion during the quarter, compared to analysts’ expectations of $76.03 billion. During the same period in the previous year, the company earned $6.06 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts forecast that McKesson Co. will post 27.23 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.55%. McKesson’s dividend payout ratio is presently 9.80%.

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.