National Bank of Canada FI Grows Stock Position in McKesson Co. (NYSE:MCK)

National Bank of Canada FI grew its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,432 shares of the company's stock after purchasing an additional 4,781 shares during the period. National Bank of Canada FI owned 0.07% of McKesson worth $46,194,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. RFP Financial Group LLC raised its holdings in 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 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 in the last quarter. Larson Financial Group LLC raised its stake in McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock worth $639,000 after purchasing an additional 17 shares in the last quarter. Lester Murray Antman dba SimplyRich grew its holdings in shares of McKesson by 0.4% during 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 last quarter. Finally, Black Diamond Financial LLC grew its holdings in McKesson by 1.3% during the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock worth $754,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

McKesson stock traded down $11.68 during mid-day trading on Monday, reaching $591.85. The company's stock had a trading volume of 970,514 shares, compared to its average volume of 817,744. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The company has a market capitalization of $75.13 billion, a P/E ratio of 30.65, a PEG ratio of 1.30 and a beta of 0.49. The firm's fifty day moving average price is $556.78 and its two-hundred day moving average price is $562.15.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company's quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm earned $6.23 earnings per share. On average, research analysts predict that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is 14.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MCK shares. Evercore ISI increased their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Leerink Partners reduced 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. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company dropped their price objective on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Two 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's stock. Based on data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average price target of $635.86.

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.