APG Asset Management N.V. Acquires 67,913 Shares of McKesson Co. (NYSE:MCK)

APG Asset Management N.V. grew its holdings in McKesson Co. (NYSE:MCK) by 87.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,706 shares of the company’s stock after acquiring an additional 67,913 shares during the quarter. APG Asset Management N.V. owned 0.11% of McKesson worth $80,192,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MCK. Applied Finance Capital Management LLC increased its stake in McKesson by 8.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 55,261 shares of the company’s stock worth $31,494,000 after purchasing an additional 4,478 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of McKesson by 168.4% in the fourth quarter. Renaissance Technologies LLC now owns 235,226 shares of the company’s stock valued at $134,058,000 after buying an additional 147,600 shares during the period. Bank of Nova Scotia increased its position in shares of McKesson by 19.9% during the fourth 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 in the last quarter. Rathbones Group PLC acquired a new stake in shares of McKesson during the fourth quarter worth $15,880,000. Finally, Polymer Capital Management US LLC acquired a new stake in shares of McKesson during the fourth quarter worth $340,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $661.26 on Tuesday. The company has a fifty day moving average price of $634.52 and a two-hundred day moving average price of $587.00. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The stock has a market cap of $82.87 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $661.00.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. 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. Insiders own 0.11% of the company’s stock.

McKesson 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.