KBC Group NV Reduces Holdings in McKesson Corporation (NYSE:MCK)

KBC Group NV cut its position in McKesson Corporation (NYSE:MCK - Free Report) by 9.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,507 shares of the company's stock after selling 12,485 shares during the period. KBC Group NV owned 0.10% of McKesson worth $83,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its position in shares of McKesson by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after purchasing an additional 222,496 shares during the last quarter. Geode Capital Management LLC increased its position in shares of McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after purchasing an additional 10,015 shares during the last quarter. Franklin Resources Inc. increased its position in shares of McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after purchasing an additional 114,396 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after buying an additional 2,389,992 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of McKesson in the 4th quarter valued at $1,200,361,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 0.6%

NYSE:MCK traded up $3.99 during trading hours on Friday, reaching $725.99. 1,932,878 shares of the company's stock were exchanged, compared to its average volume of 924,229. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $736.36. The firm has a market capitalization of $90.83 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 1.45 and a beta of 0.49. The company has a 50-day moving average of $711.19 and a 200 day moving average of $652.59.

McKesson (NYSE:MCK - Get Free Report) last released 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 net margin of 0.92% and a negative return on equity of 201.12%. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same quarter last year, the business earned $6.18 EPS. The business's revenue was up 18.9% on a year-over-year basis. Research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the sale, the chief executive officer now owns 51,243 shares in the company, valued at $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were 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 owns 1,972 shares of the company's stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,117 shares of company stock worth $23,526,451. Company insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday. Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Finally, Bank of America increased their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus price target of $696.42.

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.