BNP Paribas Has $22.72 Million Holdings in McKesson Co. (NYSE:MCK)

BNP Paribas boosted its position in McKesson Co. (NYSE:MCK) by 252.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,107 shares of the company’s stock after buying an additional 33,012 shares during the period. BNP Paribas’ holdings in McKesson were worth $22,716,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its position in shares of McKesson by 10.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,747 shares of the company’s stock worth $2,548,000 after buying an additional 449 shares during the period. Tidal Investments LLC grew its holdings in McKesson by 31.7% in the first quarter. Tidal Investments LLC now owns 7,487 shares of the company’s stock worth $4,021,000 after purchasing an additional 1,800 shares during the period. Plato Investment Management Ltd increased its stake in McKesson by 251.9% in the first quarter. Plato Investment Management Ltd now owns 3,463 shares of the company’s stock valued at $1,859,000 after purchasing an additional 2,479 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of McKesson by 3.7% during the first quarter. Citizens Financial Group Inc. RI now owns 985 shares of the company’s stock valued at $529,000 after purchasing an additional 35 shares during the period. Finally, Wahed Invest LLC boosted its position in shares of McKesson by 14.4% during the 1st quarter. Wahed Invest LLC now owns 2,609 shares of the company’s stock worth $1,401,000 after purchasing an additional 329 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MCK shares. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Evercore ISI boosted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Barclays raised their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $631.57.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

MCK opened at $625.00 on Wednesday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm has a 50-day moving average of $535.14 and a 200 day moving average of $558.45. The firm has a market cap of $79.34 billion, a P/E ratio of 32.37, a PEG ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during 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%. McKesson’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.23 earnings per share. Equities research analysts predict that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. McKesson’s dividend payout ratio is 14.71%.

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.