Desjardins Global Asset Management Inc. Has $3 Million Stake in McKesson Co. (NYSE:MCK)

Desjardins Global Asset Management Inc. lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 357.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,476 shares of the company’s stock after buying an additional 5,059 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in McKesson were worth $2,998,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MCK. Covestor Ltd grew its holdings in McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. OFI Invest Asset Management acquired a new position in McKesson during the third quarter valued at approximately $26,000. Legacy Financial Group LLC acquired a new position in McKesson during the third quarter valued at approximately $27,000. Live Oak Investment Partners acquired a new position in McKesson during the fourth quarter valued at approximately $30,000. Finally, BKM Wealth Management LLC acquired a new position in McKesson during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK traded up $5.74 on Tuesday, hitting $528.42. 211,809 shares of the stock were exchanged, compared to its average volume of 690,022. The business’s fifty day moving average is $523.34 and its 200 day moving average is $484.53. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00. The company has a market capitalization of $69.44 billion, a PE ratio of 23.68, a P/E/G ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same period in the prior year, the firm posted $6.90 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts predict that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio is currently 11.24%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of research reports. Citigroup lifted their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Barclays initiated coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target on the stock. Mizuho lifted their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Morgan Stanley lifted their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Argus lifted their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $533.50.

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.