Banque Cantonale Vaudoise Sells 1,638 Shares of McKesson Co. (NYSE:MCK)

Banque Cantonale Vaudoise lessened its holdings in McKesson Co. (NYSE:MCK - Free Report) by 17.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,992 shares of the company's stock after selling 1,638 shares during the period. Banque Cantonale Vaudoise's holdings in McKesson were worth $3,952,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RFP Financial Group LLC boosted its holdings in shares of McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company's stock worth $112,000 after buying an additional 17 shares during the period. Modera Wealth Management LLC grew its position in shares of McKesson by 2.2% in the second quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock valued at $470,000 after purchasing an additional 17 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock worth $639,000 after purchasing an additional 17 shares during the period. First Western Trust Bank lifted its holdings in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company's stock worth $490,000 after purchasing an additional 18 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich boosted its stake in McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company's stock valued at $2,935,000 after purchasing an additional 19 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a report on Friday, September 13th. Citigroup lifted their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Barclays lifted their price target on shares of McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Finally, Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two equities 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $631.57.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company's stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.11% of the company's stock.

McKesson Stock Performance

Shares of MCK traded up $5.64 during mid-day trading on Wednesday, reaching $621.29. The company had a trading volume of 484,842 shares, compared to its average volume of 821,370. The company's 50 day simple moving average is $526.55 and its 200 day simple moving average is $556.24. The company has a market capitalization of $78.87 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 1.31 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. During the same quarter in the previous year, the firm posted $6.23 earnings per share. The company's revenue was up 21.3% on a year-over-year basis. As a group, equities analysts forecast that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson's payout ratio is 14.71%.

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.