Lbp Am Sa Has $1.60 Million Stock Holdings in McKesson Corporation $MCK

Lbp Am Sa lifted its position in shares of McKesson Corporation (NYSE:MCK) by 43.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,071 shares of the company’s stock after purchasing an additional 627 shares during the quarter. Lbp Am Sa’s holdings in McKesson were worth $1,600,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Solstein Capital LLC lifted its stake in McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. State of Wyoming acquired a new position in McKesson in the 2nd quarter worth $29,000. GFG Capital LLC bought a new position in McKesson during the 2nd quarter worth about $30,000. Delos Wealth Advisors LLC acquired a new stake in McKesson in the 2nd quarter valued at approximately $35,000. Finally, Abound Wealth Management raised its holdings in shares of McKesson by 104.3% in the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the topic of several recent research reports. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a research note on Thursday, November 6th. TD Cowen restated a “buy” rating on shares of McKesson in a report on Monday, December 22nd. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company boosted their price target on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Finally, Barclays started coverage on McKesson in a report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $895.79.

McKesson Price Performance

Shares of NYSE MCK opened at $835.21 on Wednesday. McKesson Corporation has a one year low of $570.51 and a one year high of $895.58. The firm has a market cap of $103.09 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 1.36 and a beta of 0.41. The stock’s fifty day moving average price is $829.92 and its two-hundred day moving average price is $772.05.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is 10.21%.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on 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 transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by company insiders.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.