PGGM Investments Sells 796 Shares of McKesson Co. (NYSE:MCK)

PGGM Investments lessened its stake in McKesson Co. (NYSE:MCK) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,593 shares of the company’s stock after selling 796 shares during the quarter. PGGM Investments’ holdings in McKesson were worth $23,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its position in McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after acquiring an additional 708,438 shares in the last quarter. Morgan Stanley increased its position in McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after acquiring an additional 294,832 shares in the last quarter. Northern Trust Corp increased its position in McKesson by 3.3% in the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after acquiring an additional 50,265 shares in the last quarter. Boston Partners increased its position in McKesson by 12.5% in the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after acquiring an additional 133,351 shares in the last quarter. Finally, WCM Investment Management LLC increased its position in McKesson by 0.4% in the 4th quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock valued at $500,134,000 after acquiring an additional 4,636 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 0.6 %

NYSE MCK traded up $3.36 during trading on Friday, reaching $543.30. 654,669 shares of the stock traded hands, compared to its average volume of 493,786. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $544.81. The stock’s 50-day moving average price is $528.15 and its 200 day moving average price is $489.48. The firm has a market cap of $71.40 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share 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 firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the previous year, the firm posted $6.90 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. Analysts anticipate that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders 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 yield of 0.46%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is currently 11.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MCK shares. Mizuho raised their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Barclays initiated coverage on shares of McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. SVB Leerink initiated coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, Citigroup lifted their price target on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Two equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

Insider Buying and Selling at McKesson

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

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.