Credit Agricole S A Has $24 Million Stock Holdings in McKesson Corporation $MCK

Credit Agricole S A boosted its position in McKesson Corporation (NYSE:MCK) by 136.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,666 shares of the company’s stock after buying an additional 20,593 shares during the quarter. Credit Agricole S A’s holdings in McKesson were worth $24,003,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $26,000. Bank of Jackson Hole Trust raised its position in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after buying an additional 41 shares during the last quarter. Pandora Wealth Inc. acquired a new stake in McKesson in the 1st quarter valued at approximately $40,000. Finally, Dagco Inc. acquired a new stake in McKesson in the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 0.8%

MCK stock opened at $676.8290 on Wednesday. The firm has a market capitalization of $84.18 billion, a PE ratio of 26.99, a PEG ratio of 1.33 and a beta of 0.50. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89. The business’s 50 day simple moving average is $708.26 and its 200 day simple moving average is $683.16.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.88 earnings per share. As a group, sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is presently 11.32%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 13th. Wall Street Zen lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $810.00 price target (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Evercore ISI boosted their price target on McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Finally, Bank of America boosted their price target on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $719.27.

Insider Buying and Selling at McKesson

In related news, CFO Britt J. Vitalone sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the transaction, the chief financial officer directly owned 14,760 shares of the company’s stock, valued at approximately $10,587,348. The trade was a 30.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president directly owned 2,621 shares in the company, valued at $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,204 shares of company stock worth $45,152,392 in the last three months. 0.08% of the stock is owned by insiders.

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.