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

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in McKesson Co. (NYSE:MCK - Free Report) by 12.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,374 shares of the company's stock after purchasing an additional 13,748 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.10% of McKesson worth $62,976,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. LRI Investments LLC bought a new stake in shares of McKesson in the 1st quarter worth $28,000. Wolff Wiese Magana LLC lifted its holdings in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the 3rd quarter valued at $29,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson during the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson in the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MCK shares. Evercore ISI raised their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Finally, Leerink Partners dropped their price target on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average price target of $631.57.

McKesson Stock Performance

NYSE:MCK traded down $5.08 during mid-day trading on Friday, reaching $623.19. The stock had a trading volume of 510,419 shares, compared to its average volume of 818,590. The stock has a market capitalization of $79.11 billion, a P/E ratio of 32.35, a P/E/G ratio of 1.33 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a 50 day moving average price of $528.89 and a two-hundred day moving average price of $556.74.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS 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 company had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. During the same quarter last year, the company earned $6.23 EPS. The firm's revenue was up 21.3% compared to the same quarter last year. Research analysts forecast that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. 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.