DekaBank Deutsche Girozentrale Reduces Holdings in McKesson Corporation (NYSE:MCK)

DekaBank Deutsche Girozentrale trimmed its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,717 shares of the company's stock after selling 3,781 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.18% of McKesson worth $148,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its stake in shares of 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 buying an additional 798 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of McKesson in the fourth quarter valued at $313,000. Vestmark Advisory Solutions Inc. bought a new stake in shares of McKesson in the fourth quarter valued at $201,000. Callan Family Office LLC bought a new stake in shares of McKesson in the fourth quarter valued at $460,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of McKesson in the fourth quarter valued at $97,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

McKesson stock traded down $11.48 during midday trading on Tuesday, hitting $723.85. 554,461 shares of the company's stock were exchanged, compared to its average volume of 925,558. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.97. The stock has a 50-day moving average price of $714.88 and a two-hundred day moving average price of $659.39. The company has a market cap of $90.56 billion, a P/E ratio of 28.02, a PEG ratio of 1.44 and a beta of 0.48.

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, sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date was Monday, June 2nd. McKesson's dividend payout ratio (DPR) is currently 10.99%.

Insider Activity

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president owned 2,544 shares of the company's stock, valued at $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Britt J. Vitalone sold 1,878 shares of McKesson stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $1,348,234.98. Following the sale, the chief financial officer directly owned 14,028 shares of the company's stock, valued at approximately $10,070,841.48. This trade represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research reports. Morgan Stanley boosted their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Mizuho lifted their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $696.42.

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.