ASR Vermogensbeheer N.V. Has $11.61 Million Stock Position in McKesson Corporation $MCK

ASR Vermogensbeheer N.V. cut its holdings in McKesson Corporation (NYSE:MCK) by 4.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 15,850 shares of the company’s stock after selling 656 shares during the quarter. ASR Vermogensbeheer N.V.’s holdings in McKesson were worth $11,614,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Northern Trust Corp boosted its holdings in McKesson by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after purchasing an additional 10,179 shares during the period. Boston Partners raised its position in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after buying an additional 365,484 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of McKesson by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock valued at $868,237,000 after buying an additional 107,638 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of McKesson by 16.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock valued at $864,712,000 after buying an additional 181,831 shares during the period. Finally, Invesco Ltd. grew its position in McKesson by 0.7% during the first quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock worth $714,543,000 after buying an additional 7,108 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MCK. Citigroup lifted their price objective on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. TD Cowen increased their price objective on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Leerink Partners raised their target price on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $829.08.

McKesson Stock Performance

Shares of NYSE:MCK opened at $759.65 on Friday. McKesson Corporation has a 52-week low of $480.39 and a 52-week high of $776.14. The company has a market capitalization of $94.49 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.37 and a beta of 0.52. The company has a fifty day moving average of $702.08 and a 200-day moving average of $702.43.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same period last year, the business earned $7.88 EPS. The company’s revenue was up 23.4% compared to the same quarter last year. On average, equities analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.82 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s payout ratio is currently 13.08%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 19,371 shares of McKesson stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the sale, the chief executive officer directly owned 27,872 shares in the company, valued at $19,735,884.48. This trade represents a 41.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by company insiders.

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.