Axa S.A. Has $67.14 Million Stock Holdings in McKesson Corporation $MCK

Axa S.A. boosted its position in shares of McKesson Corporation (NYSE:MCK) by 128.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,625 shares of the company’s stock after purchasing an additional 51,493 shares during the period. Axa S.A. owned 0.07% of McKesson worth $67,141,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MCK. Vanguard Group Inc. increased its holdings in McKesson by 2.0% in the second quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock worth $8,846,186,000 after buying an additional 232,286 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of McKesson by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock worth $2,057,065,000 after purchasing an additional 112,224 shares during the last quarter. Norges Bank bought a new position in shares of McKesson during the 2nd quarter valued at $1,346,661,000. Northern Trust Corp lifted its stake in shares of McKesson by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after purchasing an additional 10,179 shares during the last quarter. Finally, Boston Partners boosted its holdings in McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after purchasing an additional 365,484 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of MCK opened at $795.27 on Wednesday. The company has a 50-day simple moving average of $816.60 and a 200-day simple moving average of $746.49. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $895.58. The firm has a market capitalization of $98.16 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.31 and a beta of 0.38.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter in the prior year, the firm posted $7.07 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is currently 10.21%.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on MCK shares. Bank of America raised their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a report on Monday, December 1st. JPMorgan Chase & Co. boosted their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. TD Cowen upped their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $892.86.

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.