Oddo BHF Asset Management Sas Purchases Shares of 15,784 McKesson Co. (NYSE:MCK)

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

A number of other hedge funds have also made changes to their positions in the business. Beaird Harris Wealth Management LLC grew its stake in McKesson by 7,000.0% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 426 shares of the company’s stock worth $211,000 after buying an additional 420 shares during the last quarter. Old North State Trust LLC lifted its holdings in shares of McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after buying an additional 18 shares during the period. Synovus Financial Corp raised its holdings in McKesson by 5.1% during the third quarter. Synovus Financial Corp now owns 3,391 shares of the company’s stock worth $1,678,000 after purchasing an additional 166 shares during the last quarter. Castellan Group raised its holdings in shares of McKesson by 4.0% in the third quarter. Castellan Group now owns 10,200 shares of the company’s stock worth $5,043,000 after acquiring an additional 391 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of McKesson by 453.8% in the third quarter. Tidal Investments LLC now owns 52,992 shares of the company’s stock worth $26,200,000 after acquiring an additional 43,424 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

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

McKesson Stock Down 1.2 %

Shares of McKesson stock opened at $572.29 on Friday. The stock has a market cap of $72.65 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The business has a fifty day simple moving average of $562.18 and a 200-day simple moving average of $562.53. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.50%. McKesson’s payout ratio is 14.71%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MCK shares. Wells Fargo & Company cut their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Evercore ISI upped their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $635.86.

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.