Mn Services Vermogensbeheer B.V. Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Mn Services Vermogensbeheer B.V. trimmed its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,900 shares of the company's stock after selling 3,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in McKesson were worth $32,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Segall Bryant & Hamill LLC increased its stake in shares of McKesson by 25.5% during the fourth quarter. Segall Bryant & Hamill LLC now owns 81,223 shares of the company's stock valued at $46,290,000 after purchasing an additional 16,502 shares in the last quarter. Fred Alger Management LLC boosted its stake in McKesson by 95.5% in the 4th quarter. Fred Alger Management LLC now owns 3,091 shares of the company's stock worth $1,762,000 after purchasing an additional 1,510 shares in the last quarter. Siemens Fonds Invest GmbH increased its stake in McKesson by 623.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 31,470 shares of the company's stock valued at $17,935,000 after purchasing an additional 27,119 shares in the last quarter. ABC Arbitrage SA bought a new position in shares of McKesson in the fourth quarter worth approximately $1,262,000. Finally, Roxbury Financial LLC bought a new position in shares of McKesson during the fourth quarter valued at $1,635,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the company'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 transaction, the chief executive officer now owns 51,243 shares in the company, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the sale, the executive vice president now directly owns 2,544 shares of the company's stock, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock valued at $23,526,451 over the last ninety days. Company insiders own 0.11% of the company's stock.

McKesson Trading Down 0.8%

Shares of NYSE MCK traded down $5.55 during midday trading on Monday, hitting $722.65. The company's stock had a trading volume of 117,625 shares, compared to its average volume of 917,665. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $732.99. The firm has a market cap of $90.41 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The business's 50 day moving average is $703.28 and its two-hundred day moving average is $644.62.

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

McKesson Dividend Announcement

The business 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. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson's payout ratio is 10.99%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley boosted their price target on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Finally, Mizuho upped their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson has a consensus 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.