Zurcher Kantonalbank Zurich Cantonalbank Has $22.38 Million Stake in McKesson Co. (NYSE:MCK)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of McKesson Co. (NYSE:MCK) by 32.7% during the fourth quarter, HoldingsChannel reports. The fund owned 48,344 shares of the company’s stock after buying an additional 11,923 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in McKesson were worth $22,382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. Covestor Ltd raised its holdings in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares during the period. OFI Invest Asset Management acquired a new stake in shares of McKesson during the third quarter worth $26,000. Legacy Financial Group LLC acquired a new stake in McKesson in the 3rd quarter valued at $27,000. Live Oak Investment Partners acquired a new stake in McKesson in the 4th quarter valued at $30,000. Finally, BKM Wealth Management LLC acquired a new stake in McKesson in the 4th quarter valued at $31,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. SVB Leerink assumed coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. Barclays assumed coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target on the stock. Citigroup lifted their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Finally, UBS Group boosted their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $533.50.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

McKesson Stock Down 0.5 %

NYSE MCK opened at $525.92 on Thursday. The company has a market capitalization of $69.11 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.43 and a beta of 0.45. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $543.00. The firm has a 50-day moving average price of $523.95 and a two-hundred day moving average price of $485.48.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The firm had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.90 EPS. Equities analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

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.