Zurcher Kantonalbank Zurich Cantonalbank Purchases 474 Shares of McKesson Co. (NYSE:MCK)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in McKesson Co. (NYSE:MCK) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,722 shares of the company’s stock after purchasing an additional 474 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in McKesson were worth $28,044,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. FORA Capital LLC raised its position in McKesson by 109.9% in the third quarter. FORA Capital LLC now owns 16,299 shares of the company’s stock valued at $8,059,000 after purchasing an additional 8,534 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the third quarter worth approximately $31,000. CreativeOne Wealth LLC grew its stake in McKesson by 5.8% during the third quarter. CreativeOne Wealth LLC now owns 6,613 shares of the company’s stock worth $3,270,000 after purchasing an additional 364 shares during the period. BNP Paribas grew its stake in McKesson by 252.1% during the third quarter. BNP Paribas now owns 46,107 shares of the company’s stock worth $22,716,000 after purchasing an additional 33,012 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in McKesson by 20.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554 shares of the company’s stock worth $274,000 after purchasing an additional 94 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

McKesson Price Performance

Shares of MCK opened at $626.38 on Friday. The firm has a market cap of $79.51 billion, a PE ratio of 32.44, a PEG ratio of 1.33 and a beta of 0.44. The stock’s fifty day moving average price is $539.80 and its two-hundred day moving average price is $559.39. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.23 earnings per share. Sell-side analysts anticipate that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Wall Street Analyst Weigh In

MCK has been the subject of several recent analyst reports. Citigroup raised their target price on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Leerink Partners reduced their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $631.57.

About McKesson

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.