Groupama Asset Managment Makes New $1.19 Million Investment in McKesson Co. (NYSE:MCK)

Groupama Asset Managment purchased a new position in McKesson Co. (NYSE:MCK - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,404 shares of the company's stock, valued at approximately $1,189,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. RFP Financial Group LLC lifted 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 acquiring an additional 17 shares during the period. Modera Wealth Management LLC lifted its stake in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock worth $470,000 after purchasing an additional 17 shares during the period. Larson Financial Group LLC boosted its holdings in McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $639,000 after purchasing an additional 17 shares in the last quarter. Lester Murray Antman dba SimplyRich grew its stake in shares of 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. Finally, Black Diamond Financial LLC raised its holdings in shares of McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock worth $754,000 after buying an additional 19 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MCK. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a research note on Friday, September 13th. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target for the company. Finally, Evercore ISI upped their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $635.86.

McKesson Stock Down 1.3 %

Shares of MCK traded down $7.83 during midday trading on Tuesday, hitting $584.07. The company's stock had a trading volume of 703,920 shares, compared to its average volume of 817,266. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock has a market capitalization of $74.14 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The company's fifty day simple moving average is $556.78 and its two-hundred day simple moving average is $562.15.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the business earned $6.23 earnings per share. The company's revenue for the quarter was up 21.3% compared to the same quarter last year. On average, research analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced 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 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's dividend payout ratio is presently 14.71%.

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.