KBC Group NV Lowers Stake in McKesson Co. (NYSE:MCK)

KBC Group NV cut its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 13.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 226,473 shares of the company's stock after selling 33,946 shares during the period. KBC Group NV owned approximately 0.17% of McKesson worth $111,973,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MCK. Distillate Capital Partners LLC raised its holdings in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock worth $20,874,000 after acquiring an additional 35,712 shares during the period. Chase Investment Counsel Corp lifted its stake in shares of McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock valued at $5,247,000 after purchasing an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock worth $948,000 after purchasing an additional 133 shares during the period. Councilmark Asset Management LLC acquired a new stake in shares of McKesson during the 1st quarter worth about $5,160,000. Finally, Vaughan David Investments LLC IL purchased a new stake in McKesson in the 2nd quarter valued at about $238,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MCK shares. Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Citigroup boosted their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $631.57.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company's stock.

McKesson Stock Performance

NYSE MCK traded down $12.13 during trading on Thursday, reaching $612.47. 350,417 shares of the company's stock were exchanged, compared to its average volume of 822,149. The company has a 50 day moving average price of $516.06 and a two-hundred day moving average price of $553.41. The stock has a market cap of $77.75 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm's revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.23 earnings per share. Research analysts forecast that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's payout ratio is 14.71%.

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.