16,506 Shares in McKesson Corporation (NYSE:MCK) Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. purchased 16,506 shares of McKesson Corporation, valued at approximately $11.11 million, signaling strong institutional interest in the company.
• Analysts have raised their price targets for McKesson, with Bank of America and Evercore ISI both setting new targets of $800, reflecting a positive outlook for the company's performance.
• McKesson recently declared an increased quarterly dividend of $0.82 per share, up from the previous dividend of $0.71, demonstrating a commitment to returning value to shareholders.

ASR Vermogensbeheer N.V. bought a new stake in McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,506 shares of the company's stock, valued at approximately $11,109,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. Oppenheimer Asset Management Inc. lifted its stake in McKesson by 54.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after purchasing an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in McKesson by 16.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after buying an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of McKesson by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock worth $15,501,000 after acquiring an additional 3,659 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of McKesson by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock worth $123,332,000 after acquiring an additional 7,556 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of McKesson by 12.8% in the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company's stock valued at $104,950,000 after purchasing an additional 17,750 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCK has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Evercore ISI increased their price target on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. UBS Group upped their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $810.00 target price (up from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $710.17.

Insider Transactions at McKesson

In other McKesson news, 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 value of $2,058,912.38. Following the transaction, the executive vice president directly owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president owned 2,621 shares in the company, valued at $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,488 shares of company stock worth $37,242,862. Corporate insiders own 0.08% of the company's stock.

McKesson Trading Down 0.7%

Shares of MCK stock opened at $704.85 on Thursday. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89. The stock has a market cap of $88.18 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 1.43 and a beta of 0.50. The stock has a 50-day moving average of $716.13 and a 200-day moving average of $678.04.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the previous year, the business posted $7.88 EPS. The firm's revenue for the quarter was up 23.4% compared to the same quarter last year. Sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm 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 represents a $3.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. This is an increase from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio (DPR) is 10.99%.

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.

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