McKesson Corporation $MCK Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 9.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,644 shares of the company’s stock after selling 13,062 shares during the quarter. APG Asset Management N.V. owned about 0.11% of McKesson worth $82,640,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares during the last quarter. Northern Trust Corp boosted its position in McKesson by 0.7% during the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after acquiring an additional 10,179 shares during the last quarter. Boston Partners boosted its position in McKesson by 33.3% during the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after acquiring an additional 365,484 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in McKesson by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock worth $868,237,000 after acquiring an additional 107,638 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in McKesson by 9.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,103,050 shares of the company’s stock worth $628,639,000 after acquiring an additional 95,806 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of MCK stock opened at $687.7050 on Friday. The stock has a market capitalization of $85.54 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 1.40 and a beta of 0.50. The company has a 50 day moving average price of $706.69 and a 200 day moving average price of $684.60. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same quarter last year, the firm posted $7.88 EPS. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. On average, research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.5%. McKesson’s dividend payout ratio (DPR) is presently 11.32%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 341 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the completion of the transaction, the executive vice president owned 2,800 shares in the company, valued at $2,010,148. The trade was a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the transaction, the executive vice president owned 2,544 shares of the company’s stock, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,620 shares of company stock worth $39,712,388 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MCK. Wells Fargo & Company boosted their target price on shares of McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a report on Wednesday, August 13th. Cowen reiterated a “buy” rating on shares of McKesson in a report on Thursday, August 7th. Wall Street Zen lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 13th. UBS Group boosted their target price on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $725.10.

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.