Candriam S.C.A. Buys 29,197 Shares of McKesson Corporation $MCK

Candriam S.C.A. raised its stake in shares of McKesson Corporation (NYSE:MCK) by 24.0% in the second quarter, Holdings Channel reports. The institutional investor owned 150,600 shares of the company’s stock after buying an additional 29,197 shares during the quarter. McKesson comprises about 0.6% of Candriam S.C.A.’s portfolio, making the stock its 27th biggest position. Candriam S.C.A.’s holdings in McKesson were worth $110,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. Acadian Asset Management LLC raised its position in shares of McKesson by 22.0% in the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after buying an additional 68,294 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in McKesson in the 1st quarter worth about $289,000. Lynwood Price Capital Management LP raised its holdings in shares of McKesson by 18.3% in the 2nd quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock valued at $18,906,000 after acquiring an additional 4,000 shares in the last quarter. Archford Capital Strategies LLC boosted its position in shares of McKesson by 151.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after acquiring an additional 1,372 shares during the last quarter. Finally, Focus Partners Wealth boosted its position in shares of McKesson by 3.3% during the 1st quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock valued at $48,159,000 after acquiring an additional 2,283 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of McKesson stock opened at $841.01 on Thursday. McKesson Corporation has a one year low of $558.13 and a one year high of $867.63. The business’s 50 day simple moving average is $767.30 and its two-hundred day simple moving average is $727.61. The stock has a market capitalization of $103.80 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same quarter in the prior year, the firm posted $7.07 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is presently 10.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MCK shares. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. TD Cowen upped their target price on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners increased their target price on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $887.69.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction 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 represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,189 shares of company stock valued at $16,787,319. Insiders own 0.08% 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.