McKesson Co. (NYSE:MCK) Shares Sold by PGGM Investments

PGGM Investments decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,593 shares of the company’s stock after selling 796 shares during the period. PGGM Investments’ holdings in McKesson were worth $23,424,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its holdings in McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares in the last quarter. Morgan Stanley raised its holdings in McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares in the last quarter. Northern Trust Corp increased its holdings in McKesson by 3.3% in the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after buying an additional 50,265 shares in the last quarter. Boston Partners increased its holdings in McKesson by 12.5% in the third quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after buying an additional 133,351 shares in the last quarter. Finally, WCM Investment Management LLC increased its holdings in McKesson by 0.4% in the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock valued at $500,134,000 after buying an additional 4,636 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Argus increased their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Mizuho increased their target price on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. UBS Group raised their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Citigroup raised their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Barclays initiated coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective for the company. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $533.50.

Insider Activity

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

McKesson Stock Up 0.6 %

Shares of MCK stock traded up $3.36 during mid-day trading on Friday, reaching $543.30. The company’s stock had a trading volume of 654,669 shares, compared to its average volume of 493,786. The company’s 50 day simple moving average is $528.15 and its 200-day simple moving average is $489.48. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $544.81. The firm has a market capitalization of $71.40 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter last year, the firm posted $6.90 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, research analysts anticipate that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is presently 11.24%.

McKesson Company 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.