ASR Vermogensbeheer N.V. Has $11.61 Million Holdings in McKesson Corporation $MCK

Key Points

• ASR Vermogensbeheer N.V. reduced its holdings in McKesson Corporation by 4.0%, ending the second quarter with a position worth $11.61 million.
• McKesson recently increased its quarterly dividend from $0.71 to $0.82, representing a 0.4% dividend yield.
• Several analysts have raised their target prices for McKesson's stock, with Citigroup and TD Cowen setting new targets at $860.00 and $864.00, respectively, both indicating a "buy" rating.

ASR Vermogensbeheer N.V. lessened its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,850 shares of the company's stock after selling 656 shares during the period. ASR Vermogensbeheer N.V.'s holdings in McKesson were worth $11,614,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bank of Jackson Hole Trust grew its holdings in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of McKesson in the first quarter valued at approximately $34,000. Flaharty Asset Management LLC acquired a new stake in shares of McKesson in the first quarter valued at approximately $39,000. Finally, Pandora Wealth Inc. bought a new stake in shares of McKesson in the first quarter worth $40,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MCK. Citigroup raised their target price on shares of McKesson from $820.00 to $860.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. TD Cowen lifted their target price on McKesson from $830.00 to $864.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Wells Fargo & Company increased their price target on McKesson from $772.00 to $816.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a "hold" rating to a "buy" rating in a research note on Sunday, September 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $829.08.

McKesson Stock Down 0.7%

NYSE:MCK opened at $759.65 on Friday. McKesson Corporation has a 12-month low of $480.39 and a 12-month high of $776.14. The firm has a market capitalization of $94.49 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 1.37 and a beta of 0.52. The stock's 50 day moving average price is $702.08 and its two-hundred day moving average price is $702.43.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same period in the previous year, the firm posted $7.88 earnings per share. The firm's revenue was up 23.4% compared to the same quarter last year. Equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This is an increase from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. McKesson's dividend payout ratio is presently 13.08%.

Insider Activity

In other news, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer directly owned 27,872 shares of the company's stock, valued at $19,735,884.48. This represents a 41.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, 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. The disclosure for this sale can be found here. Insiders sold 43,560 shares of company stock worth $30,438,602 over the last three months. 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.

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