Pensionfund Sabic Reduces Stock Position in McKesson Corporation $MCK

Pensionfund Sabic lowered its holdings in shares of McKesson Corporation (NYSE:MCK) by 24.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,750 shares of the company’s stock after selling 900 shares during the quarter. Pensionfund Sabic’s holdings in McKesson were worth $1,851,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MCK. GAMMA Investing LLC boosted its holdings in McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock valued at $1,610,567,000 after acquiring an additional 2,389,992 shares during the period. Nuveen LLC purchased a new position in McKesson during the 1st quarter valued at $475,235,000. Wellington Management Group LLP boosted its holdings in McKesson by 4,559.6% during the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock valued at $287,840,000 after acquiring an additional 418,524 shares during the period. Boston Partners raised its position in McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after purchasing an additional 365,484 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in McKesson by 92.3% during the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock valued at $437,760,000 after purchasing an additional 312,473 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

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

McKesson Trading Down 1.2%

MCK opened at $711.32 on Friday. The firm has a market cap of $88.48 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.43 and a beta of 0.51. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The stock has a fifty day moving average price of $697.81 and a 200-day moving average price of $693.98.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio is presently 13.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $810.00 target price (up from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Evercore ISI lifted their target price on McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Wall Street Zen lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. Finally, Wells Fargo & Company lifted their target price on McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $725.10.

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.