PGGM Investments Sells 12,580 Shares of McKesson Co. (NYSE:MCK)

PGGM Investments reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 31.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,411 shares of the company’s stock after selling 12,580 shares during the quarter. PGGM Investments’ holdings in McKesson were worth $15,622,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the third quarter valued at about $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the 4th quarter worth about $32,000. Crews Bank & Trust bought a new stake in shares of McKesson during the 4th quarter worth about $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson in the 4th quarter valued at about $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 over the last ninety days. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MCK shares. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Down 1.9 %

Shares of McKesson stock opened at $640.93 on Thursday. The firm’s 50-day moving average price is $605.54 and its two-hundred day moving average price is $569.47. The company has a market capitalization of $80.32 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $663.61.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. McKesson’s dividend payout ratio is currently 13.00%.

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.