Varma Mutual Pension Insurance Co Has $19.71 Million Holdings in McKesson Co. (NYSE:MCK)

Varma Mutual Pension Insurance Co lowered its stake in shares of McKesson Co. (NYSE:MCK) by 0.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,753 shares of the company’s stock after selling 47 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in McKesson were worth $19,713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Councilmark Asset Management LLC bought a new stake in shares of McKesson during the 1st quarter worth $5,160,000. Atlantic Edge Private Wealth Management LLC bought a new stake in McKesson during the fourth quarter valued at about $2,487,000. Treasurer of the State of North Carolina boosted its holdings in McKesson by 6.5% during the fourth quarter. Treasurer of the State of North Carolina now owns 65,266 shares of the company’s stock valued at $30,217,000 after acquiring an additional 3,982 shares during the period. BDF Gestion acquired a new stake in McKesson in the 2nd quarter valued at approximately $3,504,000. Finally, Bornite Capital Management LP acquired a new stake in shares of McKesson in the fourth quarter worth $34,724,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the sale, the chief executive officer now owns 86,092 shares in the company, valued at $50,012,564.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the completion of the transaction, the chief executive officer now owns 86,092 shares in the company, valued at approximately $50,012,564.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the transaction, the executive vice president now directly owns 2,022 shares in the company, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,859 shares of company stock worth $6,986,810. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCK shares. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. Leerink Partners cut their price target on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday. Barclays lifted their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Citigroup upped their target price on McKesson from $620.00 to $670.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Evercore ISI decreased their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $624.93.

McKesson Stock Performance

Shares of NYSE MCK traded down $10.58 during midday trading on Friday, reaching $504.17. 1,924,323 shares of the company traded hands, compared to its average volume of 761,035. The stock’s 50-day simple moving average is $574.75 and its 200-day simple moving average is $557.64. McKesson Co. has a 12 month low of $412.64 and a 12 month high of $637.51. The firm has a market cap of $65.51 billion, a PE ratio of 22.53, a PEG ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $7.27 earnings per share. On average, equities research analysts expect that McKesson Co. will post 32.14 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

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.