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% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 56,722 shares of the company’s stock after acquiring an additional 474 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in McKesson were worth $28,044,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of MCK. LRI Investments LLC bought a new stake in shares of McKesson during the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter worth approximately $31,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of McKesson during the 3rd quarter worth approximately $40,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK opened at $626.38 on Friday. The firm has a market cap of $79.51 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The business’s fifty day moving average is $539.80 and its 200-day moving average is $559.39.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The company 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%. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.23 EPS. On average, research analysts predict that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Barclays upped their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Wells Fargo & Company decreased their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Mizuho boosted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Two 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $631.57.

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.