McKesson Co. (NYSE:MCK) Stock Holdings Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in McKesson Co. (NYSE:MCK - Free Report) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,832 shares of the company's stock after selling 14,501 shares during the period. Assenagon Asset Management S.A. owned 0.19% of McKesson worth $159,386,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital A Wealth Management LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $28,000. Atala Financial Inc bought a new position in shares of McKesson during the fourth quarter valued at approximately $34,000. Graney & King LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $38,000. Finally, Creative Capital Management Investments LLC purchased a new stake in McKesson during the fourth quarter valued at approximately $44,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 19,370 shares of McKesson 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 in the company, valued at $36,173,970.99. The trade was a 27.43% 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 worth $23,526,451. 0.11% of the stock is owned by insiders.

McKesson Stock Down 0.5%

NYSE MCK traded down $3.65 during trading hours on Friday, hitting $727.15. 518,101 shares of the stock were exchanged, compared to its average volume of 920,038. The company has a market cap of $90.98 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $732.99. The stock has a 50-day moving average of $703.28 and a 200 day moving average of $644.37.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company posted $6.18 earnings per share. On average, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend 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 (DPR) is currently 10.99%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MCK shares. Morgan Stanley raised their target price on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday. UBS Group raised their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Mizuho boosted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus price target of $694.38.

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.