Oddo BHF Asset Management Sas Purchases New Holdings in McKesson Co. (NYSE:MCK)

Oddo BHF Asset Management Sas acquired a new stake in shares of McKesson Co. (NYSE:MCK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,784 shares of the company’s stock, valued at approximately $7,804,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC raised its position in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson during the 3rd quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson in the 2nd quarter valued at about $52,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Down 1.2 %

Shares of NYSE MCK opened at $572.29 on Friday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The firm has a fifty day simple moving average of $562.18 and a 200 day simple moving average of $562.53. The company has a market capitalization of $72.65 billion, a PE ratio of 30.00, a P/E/G ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the firm earned $6.23 earnings per share. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, equities analysts expect that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.50%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Citigroup raised their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $635.86.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.11% of the company’s stock.

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.