Achmea Investment Management B.V. Increases Holdings in McKesson Corporation (NYSE:MCK)

Achmea Investment Management B.V. grew its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 14.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,375 shares of the company's stock after buying an additional 6,989 shares during the period. Achmea Investment Management B.V.'s holdings in McKesson were worth $37,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCK. Brighton Jones LLC raised its stake in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares in the last quarter. IFP Advisors Inc raised its position in shares of McKesson by 82.1% in the 4th quarter. IFP Advisors Inc now owns 2,407 shares of the company's stock valued at $1,372,000 after buying an additional 1,085 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of McKesson during the 4th quarter worth approximately $249,000. Lake Street Advisors Group LLC lifted its stake in McKesson by 5.0% during the fourth quarter. Lake Street Advisors Group LLC now owns 2,092 shares of the company's stock worth $1,194,000 after purchasing an additional 99 shares during the last quarter. Finally, Advisor OS LLC acquired a new stake in McKesson in the fourth quarter valued at about $302,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Bank of America lifted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Morgan Stanley increased their price objective on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Finally, Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, McKesson has an average rating of "Moderate Buy" and an average price target of $696.42.

McKesson Trading Up 0.9%

Shares of MCK stock traded up $6.72 during trading hours on Monday, reaching $732.50. The stock had a trading volume of 700,556 shares, compared to its average volume of 926,323. The stock's fifty day simple moving average is $711.19 and its 200 day simple moving average is $653.10. The firm has a market capitalization of $91.64 billion, a PE ratio of 28.36, a PEG ratio of 1.45 and a beta of 0.49. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $736.36.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same period in the previous year, the business earned $6.18 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. McKesson's dividend payout ratio is presently 10.99%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the transaction, the chief executive officer now owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock valued at $23,526,451 in the last quarter. Insiders own 0.08% of the company's stock.

McKesson Company 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.