PGGM Investments Has $15.62 Million Holdings in McKesson Co. (NYSE:MCK)

PGGM Investments decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 31.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,411 shares of the company’s stock after selling 12,580 shares during the quarter. PGGM Investments’ holdings in McKesson were worth $15,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. raised its position in shares of McKesson by 10.8% during the 3rd quarter. Assetmark Inc. now owns 6,884 shares of the company’s stock valued at $3,403,000 after acquiring an additional 670 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in shares of McKesson by 198.7% during the third quarter. Axxcess Wealth Management LLC now owns 2,055 shares of the company’s stock worth $1,016,000 after purchasing an additional 1,367 shares during the period. Apollon Wealth Management LLC increased its holdings in McKesson by 9.7% in the third quarter. Apollon Wealth Management LLC now owns 7,576 shares of the company’s stock valued at $3,746,000 after purchasing an additional 671 shares during the last quarter. WealthPLAN Partners LLC lifted its stake in McKesson by 4.3% in the third quarter. WealthPLAN Partners LLC now owns 1,421 shares of the company’s stock valued at $702,000 after buying an additional 58 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in McKesson by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 320,207 shares of the company’s stock worth $158,317,000 after buying an additional 1,725 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MCK shares. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI lifted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Price Performance

MCK stock opened at $640.93 on Thursday. The stock has a market capitalization of $80.32 billion, a P/E ratio of 29.35, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $663.61. The business has a 50-day moving average of $605.54 and a 200-day moving average of $569.47.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 in the last three months. 0.11% of the stock is currently owned by corporate insiders.

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.