Achmea Investment Management B.V. Buys 922 Shares of McKesson Co. (NYSE:MCK)

Achmea Investment Management B.V. boosted its stake in McKesson Co. (NYSE:MCK) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 49,386 shares of the company’s stock after acquiring an additional 922 shares during the period. Achmea Investment Management B.V.’s holdings in McKesson were worth $28,146,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after buying an additional 138,685 shares in the last quarter. FMR LLC boosted its holdings in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of McKesson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after buying an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 in the last ninety days. 0.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

MCK has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

McKesson Trading Down 1.9 %

NYSE MCK opened at $640.93 on Thursday. The firm has a market capitalization of $80.32 billion, a P/E ratio of 29.35, a PEG ratio of 1.29 and a beta of 0.52. The business has a fifty day simple moving average of $605.54 and a 200 day simple moving average of $569.47. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $663.61.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

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.