Union Bancaire Privee UBP SA Makes New $3.07 Million Investment in McKesson Co. (NYSE:MCK)

Union Bancaire Privee UBP SA bought a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 5,409 shares of the company’s stock, valued at approximately $3,069,000.

Several other institutional investors have also recently made changes to their positions in MCK. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the third quarter worth $31,000. Synergy Asset Management LLC purchased a new position in shares of McKesson during the fourth quarter worth $32,000. Crews Bank & Trust purchased a new position in shares of McKesson during the fourth quarter worth $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in shares of McKesson during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 1.0 %

Shares of NYSE MCK opened at $597.68 on Friday. The company’s 50-day simple moving average is $589.02 and its 200-day simple moving average is $562.01. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The firm has a market cap of $74.91 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s payout ratio is presently 13.00%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,307 shares of company stock worth $6,177,790. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

MCK has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Evercore ISI lifted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley lifted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Baird R W raised shares of 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $645.79.

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.