Raiffeisen Bank International AG Takes Position in McKesson Co. (NYSE:MCK)

Raiffeisen Bank International AG acquired a new stake in McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,705 shares of the company’s stock, valued at approximately $13,530,000.

Several other hedge funds also recently bought and sold shares of the company. Frank Rimerman Advisors LLC raised its position in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after buying an additional 17 shares in the last quarter. Trust Co. of Vermont increased its position in shares of McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the last quarter. Hemington Wealth Management lifted its position in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after buying an additional 18 shares during the last quarter. First Western Trust Bank boosted its stake in McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after buying an additional 18 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its stake in McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $682.20 on Thursday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.48. The firm’s 50-day moving average is $680.82 and its 200 day moving average is $623.83. The stock has a market cap of $85.50 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same quarter in the prior year, the company posted $6.18 earnings per share. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, equities analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 2nd. McKesson’s payout ratio is presently 10.99%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCK. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $686.69.

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.