Lbp Am Sa Buys Shares of 1,607 McKesson Co. (NYSE:MCK)

Lbp Am Sa purchased a new position in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,607 shares of the company’s stock, valued at approximately $916,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its stake in shares of McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. FMR LLC increased its position in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the period. Geode Capital Management LLC lifted its holdings in shares of McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on MCK shares. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 in the last three months. 0.11% of the stock is currently owned by insiders.

McKesson Trading Up 1.1 %

MCK opened at $650.96 on Monday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $663.62. The company has a market cap of $81.58 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.29 and a beta of 0.52. The company’s fifty day moving average price is $608.54 and its two-hundred day moving average price is $570.95.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

About McKesson

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.