Union Bancaire Privee UBP SA Has $2.38 Million Holdings in McKesson Corporation $MCK

Union Bancaire Privee UBP SA lessened its stake in shares of McKesson Corporation (NYSE:MCK) by 70.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,264 shares of the company’s stock after selling 7,915 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in McKesson were worth $2,375,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Sanders Morris Harris LLC bought a new position in shares of McKesson during the third quarter valued at $2,603,000. Graves Light Lenhart Wealth Inc. increased its position in shares of McKesson by 13.7% during the 3rd quarter. Graves Light Lenhart Wealth Inc. now owns 1,059 shares of the company’s stock worth $818,000 after purchasing an additional 128 shares in the last quarter. Oak Thistle LLC bought a new position in McKesson during the 3rd quarter valued at about $2,233,000. HF Advisory Group LLC boosted its position in McKesson by 69.4% in the third quarter. HF Advisory Group LLC now owns 2,070 shares of the company’s stock valued at $1,599,000 after buying an additional 848 shares in the last quarter. Finally, TruWealth Advisors LLC grew its stake in McKesson by 5.2% during the third quarter. TruWealth Advisors LLC now owns 1,287 shares of the company’s stock worth $994,000 after buying an additional 64 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCK. TD Cowen boosted their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Mizuho increased their target price on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Morgan Stanley raised their target price on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a research report on Monday. Finally, Cowen restated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $892.86.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.08% of the company’s stock.

McKesson Trading Down 0.4%

McKesson stock opened at $806.86 on Thursday. The company has a market cap of $99.59 billion, a PE ratio of 25.11, a PEG ratio of 1.33 and a beta of 0.38. McKesson Corporation has a 1 year low of $558.36 and a 1 year high of $895.58. The company’s 50-day moving average is $824.06 and its two-hundred day moving average is $750.38.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the previous year, the firm posted $7.07 earnings per share. McKesson’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 10.21%.

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.