Transatlantique Private Wealth LLC Has $1.24 Million Stock Position in McKesson Co. (NYSE:MCK)

Transatlantique Private Wealth LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,118 shares of the company’s stock after buying an additional 30 shares during the quarter. Transatlantique Private Wealth LLC’s holdings in McKesson were worth $1,237,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCK. D.A. Davidson & CO. grew its position in McKesson by 77.3% during the fourth quarter. D.A. Davidson & CO. now owns 4,937 shares of the company’s stock worth $2,286,000 after buying an additional 2,153 shares in the last quarter. Assetmark Inc. grew its holdings in shares of McKesson by 16.7% during the 4th quarter. Assetmark Inc. now owns 9,777 shares of the company’s stock worth $4,527,000 after purchasing an additional 1,399 shares in the last quarter. Franklin Resources Inc. increased its position in shares of McKesson by 37.8% during the fourth quarter. Franklin Resources Inc. now owns 156,181 shares of the company’s stock valued at $72,309,000 after purchasing an additional 42,813 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of McKesson by 17.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 25,613 shares of the company’s stock valued at $11,858,000 after purchasing an additional 3,844 shares in the last quarter. Finally, FineMark National Bank & Trust lifted its position in McKesson by 17.0% in the fourth quarter. FineMark National Bank & Trust now owns 710 shares of the company’s stock worth $329,000 after purchasing an additional 103 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MCK shares. Mizuho boosted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Robert W. Baird dropped their price target on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Evercore ISI cut their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Citigroup cut their target price on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $620.93.

McKesson Stock Down 0.1 %

McKesson stock opened at $507.89 on Friday. The stock has a 50-day simple moving average of $560.25 and a 200 day simple moving average of $556.82. The stock has a market capitalization of $65.99 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $7.27 earnings per share. As a group, sell-side analysts anticipate that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 11,259 shares of company stock worth $6,635,492 over the last 90 days. 0.11% of the stock is owned by insiders.

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.