Union Bancaire Privee UBP SA Sells 7,915 Shares of McKesson Corporation $MCK
by Doug Wharley · The Cerbat GemUnion Bancaire Privee UBP SA lowered its position in McKesson Corporation (NYSE:MCK – Free Report) by 70.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,264 shares of the company’s stock after selling 7,915 shares during the period. Union Bancaire Privee UBP SA’s holdings in McKesson were worth $2,375,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Solstein Capital LLC increased its holdings in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. State of Wyoming acquired a new position in shares of McKesson in the 2nd quarter valued at approximately $29,000. GFG Capital LLC bought a new stake in McKesson during the 2nd quarter worth approximately $30,000. Delos Wealth Advisors LLC acquired a new stake in McKesson during the 2nd quarter worth approximately $35,000. Finally, Saudi Central Bank bought a new position in McKesson in the first quarter valued at approximately $34,000. 85.07% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on MCK shares. Robert W. Baird increased their price objective on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. 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 boosted their price target on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Evercore ISI reiterated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. boosted their target price on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $892.86.
McKesson Stock Down 0.4%
Shares of McKesson stock opened at $806.86 on Thursday. The stock has a market cap of $99.59 billion, a P/E ratio of 25.11, a P/E/G ratio of 1.33 and a beta of 0.38. McKesson Corporation has a 12-month low of $558.36 and a 12-month high of $895.58. The business’s 50 day moving average is $824.06 and its 200-day moving average is $750.38.
McKesson (NYSE:MCK – Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the previous year, the company earned $7.07 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that McKesson Corporation will post 32.77 EPS for the current year.
McKesson Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is currently 10.21%.
Insider Activity
In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were 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 directly owned 328 shares in the company, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.08% of the company’s stock.
McKesson Company 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.
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