APG Asset Management N.V. Increases Stock Position in McKesson Co. (NYSE:MCK)

APG Asset Management N.V. increased its holdings in McKesson Co. (NYSE:MCK - Free Report) by 87.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,706 shares of the company's stock after acquiring an additional 67,913 shares during the period. APG Asset Management N.V. owned about 0.11% of McKesson worth $80,192,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MCK. Applied Finance Capital Management LLC boosted its position in shares of McKesson by 8.8% during the fourth quarter. Applied Finance Capital Management LLC now owns 55,261 shares of the company's stock valued at $31,494,000 after buying an additional 4,478 shares during the last quarter. Renaissance Technologies LLC lifted its stake in McKesson by 168.4% during the 4th quarter. Renaissance Technologies LLC now owns 235,226 shares of the company's stock valued at $134,058,000 after acquiring an additional 147,600 shares in the last quarter. Bank of Nova Scotia boosted its holdings in McKesson by 19.9% during the 4th quarter. Bank of Nova Scotia now owns 20,734 shares of the company's stock worth $11,817,000 after acquiring an additional 3,447 shares during the last quarter. Rathbones Group PLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $15,880,000. Finally, Polymer Capital Management US LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $340,000. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Mizuho lifted their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $668.50.

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McKesson Price Performance

Shares of MCK traded up $11.10 during trading hours on Friday, hitting $690.43. The company's stock had a trading volume of 841,601 shares, compared to its average volume of 879,494. The company has a market cap of $86.53 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49. The business has a 50 day simple moving average of $642.70 and a two-hundred day simple moving average of $593.06. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results 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%. Research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's payout ratio is presently 13.00%.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the business'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 transaction, the chief executive officer now owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 over the last ninety days. Company insiders own 0.11% of the company's stock.

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.