Achmea Investment Management B.V. Acquires 652 Shares of McKesson Corporation $MCK

Achmea Investment Management B.V. grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,027 shares of the company’s stock after buying an additional 652 shares during the quarter. Achmea Investment Management B.V.’s holdings in McKesson were worth $41,788,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SouthState Corp lifted its position in McKesson by 16.6% during the 2nd quarter. SouthState Corp now owns 547 shares of the company’s stock worth $401,000 after buying an additional 78 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in McKesson by 123.2% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 799 shares of the company’s stock worth $585,000 after buying an additional 441 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of McKesson by 1.3% in the 2nd quarter. Moors & Cabot Inc. now owns 3,707 shares of the company’s stock valued at $2,716,000 after purchasing an additional 48 shares during the period. Main Street Research LLC raised its holdings in shares of McKesson by 0.8% in the 2nd quarter. Main Street Research LLC now owns 69,178 shares of the company’s stock valued at $50,741,000 after purchasing an additional 522 shares during the period. Finally, Crestwood Advisors Group LLC raised its holdings in shares of McKesson by 13.1% in the 2nd quarter. Crestwood Advisors Group LLC now owns 649 shares of the company’s stock valued at $475,000 after purchasing an additional 75 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. The trade was a 33.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,189 shares of company stock worth $16,722,190 in the last 90 days. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.6%

Shares of MCK opened at $846.51 on Thursday. McKesson Corporation has a 12 month low of $530.39 and a 12 month high of $863.32. The firm’s 50 day moving average is $750.73 and its 200-day moving average is $721.95. The stock has a market capitalization of $105.29 billion, a PE ratio of 33.75, a P/E/G ratio of 1.46 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $7.07 EPS. Equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a $0.82 dividend. 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 dividend payout ratio (DPR) is currently 13.08%.

Analysts Set New Price Targets

MCK has been the topic of a number of research analyst reports. UBS Group upped their target price on shares of McKesson from $860.00 to $920.00 and gave the company a “buy” rating in a report on Monday, October 27th. Morgan Stanley upped their target price on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Wells Fargo & Company upped their target price on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Citigroup upped their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $839.15.

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.