Swiss National Bank Reduces Stock Holdings in McKesson Co. (NYSE:MCK)

Swiss National Bank reduced its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,050 shares of the company's stock after selling 4,000 shares during the quarter. Swiss National Bank owned about 0.30% of McKesson worth $190,376,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Cynosure Group LLC bought a new stake in McKesson during the 1st quarter worth approximately $320,000. UniSuper Management Pty Ltd grew its holdings in shares of McKesson by 212.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,572 shares of the company's stock valued at $1,918,000 after purchasing an additional 2,427 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in McKesson during the 1st quarter valued at $18,790,000. Bessemer Group Inc. boosted its position in McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company's stock valued at $187,572,000 after buying an additional 340,007 shares during the period. Finally, Lake Street Advisors Group LLC boosted its position in McKesson by 33.9% during the 1st quarter. Lake Street Advisors Group LLC now owns 2,063 shares of the company's stock valued at $1,109,000 after buying an additional 522 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on MCK. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research report on Monday, October 7th. Citigroup raised their target price on shares of McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Wells Fargo & Company decreased their price target 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. Finally, Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an "overweight" rating in a research note on Thursday, August 8th. Two investment 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $631.57.

McKesson Price Performance

Shares of MCK traded up $9.32 on Monday, reaching $615.61. The company's stock had a trading volume of 628,252 shares, compared to its average volume of 823,903. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The stock has a market capitalization of $78.15 billion, a P/E ratio of 31.33, a PEG ratio of 1.31 and a beta of 0.44. The stock's 50 day simple moving average is $520.01 and its two-hundred day simple moving average is $554.57.

McKesson (NYSE:MCK - Get Free Report) last issued 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. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business 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 posted $6.23 EPS. The company's revenue was up 21.3% compared to the same quarter last year. Analysts expect that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is owned by corporate insiders.

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.