Union Bancaire Privee UBP SA Takes $3.07 Million Position in McKesson Co. (NYSE:MCK)

Union Bancaire Privee UBP SA acquired a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,409 shares of the company’s stock, valued at approximately $3,069,000.

A number of other hedge funds have also recently modified their holdings of MCK. Old North State Trust LLC boosted its holdings in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont boosted its holdings in McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the period. Hemington Wealth Management boosted its holdings in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after buying an additional 18 shares during the period. Black Diamond Financial LLC boosted its holdings in 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 during the period. Finally, Calamos Wealth Management LLC boosted its holdings in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after buying an additional 20 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MCK shares. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company increased their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Finally, Evercore ISI upped their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $645.79.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred 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 $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,307 shares of company stock worth $6,177,790 over the last three months. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $597.68 on Friday. The company has a market capitalization of $74.91 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52. The company’s 50-day simple moving average is $589.02 and its two-hundred day simple moving average is $562.01. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio (DPR) is 13.00%.

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.