McKesson Co. (NYSE:MCK) Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec increased its stake in shares of McKesson Co. (NYSE:MCK) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 727,002 shares of the company’s stock after acquiring an additional 34,262 shares during the quarter. McKesson comprises approximately 0.7% of Caisse DE Depot ET Placement DU Quebec’s portfolio, making the stock its 27th largest holding. Caisse DE Depot ET Placement DU Quebec owned about 0.57% of McKesson worth $359,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of McKesson during the first quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its position in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the third quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the third quarter valued at about $31,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of McKesson during the third quarter worth about $40,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Citigroup increased their price objective on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Barclays upped their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $631.57.

McKesson Stock Up 0.4 %

Shares of NYSE:MCK opened at $628.60 on Friday. The business has a fifty day simple moving average of $542.22 and a 200-day simple moving average of $559.90. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The company has a market cap of $79.79 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.35 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the business earned $6.23 EPS. The firm’s revenue was up 21.3% on a year-over-year basis. Sell-side analysts expect that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the 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 transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.