BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 13,748 Shares of McKesson Co. (NYSE:MCK)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in McKesson Co. (NYSE:MCK) by 12.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 127,374 shares of the company’s stock after buying an additional 13,748 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in McKesson were worth $62,976,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Distillate Capital Partners LLC raised its position in McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp raised its position in McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after purchasing an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC raised its position in McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares during the last quarter. Vaughan David Investments LLC IL bought a new position in McKesson in the second quarter valued at about $238,000. Finally, Newbridge Financial Services Group Inc. raised its position in shares of McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after acquiring an additional 1,393 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MCK shares. Evercore ISI raised their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Mizuho lifted their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $631.57.

McKesson Stock Up 1.1 %

McKesson stock opened at $628.15 on Friday. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The business has a 50-day simple moving average of $528.89 and a 200 day simple moving average of $556.74. The stock has a market cap of $79.74 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping 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 business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the business earned $6.23 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. On average, research analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given 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 payout ratio is 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.