APG Asset Management N.V. Decreases Holdings in McKesson Co. (MCK)

APG Asset Management N.V. cut its stake in McKesson Co. (NYSE:MCK) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,297 shares of the company’s stock after selling 5,870 shares during the period. APG Asset Management N.V.’s holdings in McKesson were worth $7,571,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in McKesson by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock worth $390,217,000 after acquiring an additional 154,967 shares during the period. Pzena Investment Management LLC lifted its stake in McKesson by 17.2% in the third quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock worth $377,655,000 after acquiring an additional 360,676 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in McKesson by 0.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,785,700 shares of the company’s stock worth $275,455,000 after acquiring an additional 5,000 shares during the period. Nordea Investment Management AB lifted its stake in McKesson by 0.7% in the third quarter. Nordea Investment Management AB now owns 1,379,609 shares of the company’s stock worth $211,922,000 after acquiring an additional 9,281 shares during the period. Finally, Legal & General Group Plc lifted its stake in McKesson by 2.8% in the third quarter. Legal & General Group Plc now owns 1,361,681 shares of the company’s stock worth $209,181,000 after acquiring an additional 37,547 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

In other news, Chairman John H. Hammergren sold 65,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total transaction of $10,400,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Several research firms have recently issued reports on MCK. Needham & Company LLC set a $178.00 price objective on shares of McKesson and gave the company a “buy” rating in a report on Tuesday, October 24th. Credit Suisse Group reiterated an “underperform” rating and issued a $130.00 price target (down previously from $155.00) on shares of McKesson in a report on Thursday, November 9th. Deutsche Bank began coverage on shares of McKesson in a report on Monday, December 4th. They issued a “buy” rating and a $175.00 price target on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $170.00 price target on shares of McKesson in a report on Friday, October 27th. Finally, ValuEngine downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $178.97.

Shares of McKesson Co. (NYSE MCK) traded down $1.30 during midday trading on Friday, hitting $148.93. 2,232,556 shares of the stock were exchanged, compared to its average volume of 1,957,645. The firm has a market cap of $30,730.07, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23. McKesson Co. has a twelve month low of $133.82 and a twelve month high of $178.86. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, February 1st. The company reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.49. The business had revenue of $53.62 billion for the quarter, compared to analysts’ expectations of $51.98 billion. McKesson had a net margin of 2.34% and a return on equity of 22.98%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $3.04 EPS. equities analysts forecast that McKesson Co. will post 12.69 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. McKesson’s payout ratio is 6.03%.

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About McKesson

McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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