McKesson Co. (NYSE:MCK) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in McKesson Co. (NYSE:MCK) by 32.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,344 shares of the company’s stock after acquiring an additional 11,923 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in McKesson were worth $22,382,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Legacy Financial Group LLC acquired a new position in McKesson during the third quarter worth $27,000. OFI Invest Asset Management purchased a new position in McKesson in the third quarter valued at $26,000. BKM Wealth Management LLC purchased a new position in McKesson in the fourth quarter valued at $31,000. Live Oak Investment Partners purchased a new position in shares of McKesson during the fourth quarter worth about $30,000. Finally, Covestor Ltd grew its holdings in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a report on Monday, February 26th. SVB Leerink assumed coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. Argus lifted their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Citigroup raised their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $533.50.

Insider Transactions at McKesson

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

McKesson Stock Performance

MCK stock opened at $525.92 on Thursday. The stock has a market capitalization of $69.11 billion, a P/E ratio of 23.83, a PEG ratio of 1.43 and a beta of 0.45. McKesson Co. has a one year low of $352.34 and a one year high of $543.00. The company has a 50 day moving average price of $523.95 and a two-hundred day moving average price of $485.48.

McKesson (NYSE:MCK) last released its earnings results 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 net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the previous year, the company earned $6.90 EPS. McKesson’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts forecast that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

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.