Delta Lloyd NV Reduces Position in McKesson Corporation (MCK)

Delta Lloyd NV lowered its position in shares of McKesson Corporation (NYSE:MCK) by 3.8% during the first quarter, Holdings Channel reports. The fund owned 25,325 shares of the company’s stock after selling 993 shares during the period. Delta Lloyd NV’s holdings in McKesson Corporation were worth $3,502,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCK. Parnassus Investments CA raised its position in McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock worth $620,727,000 after buying an additional 3,236,594 shares during the last quarter. Vulcan Value Partners LLC raised its position in McKesson Corporation by 105.3% in the fourth quarter. Vulcan Value Partners LLC now owns 3,461,194 shares of the company’s stock worth $486,125,000 after buying an additional 1,775,467 shares during the last quarter. Pzena Investment Management LLC raised its position in McKesson Corporation by 1,015.0% in the first quarter. Pzena Investment Management LLC now owns 2,077,104 shares of the company’s stock worth $307,951,000 after buying an additional 1,890,815 shares during the last quarter. Norges Bank acquired a new position in McKesson Corporation during the fourth quarter worth approximately $268,672,000. Finally, Ameriprise Financial Inc. raised its position in McKesson Corporation by 288.6% in the first quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock worth $259,883,000 after buying an additional 1,301,803 shares during the last quarter. 89.33% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

Shares of McKesson Corporation (NYSE MCK) opened at 161.75 on Tuesday. The stock has a market cap of $34.11 billion, a P/E ratio of 7.12 and a beta of 1.15. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $199.43. The company has a 50 day moving average price of $153.91 and a 200 day moving average price of $147.10.

McKesson Corporation (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 18th. The company reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.35. The business had revenue of $48.71 billion during the quarter, compared to the consensus estimate of $49.48 billion. McKesson Corporation had a net margin of 2.55% and a return on equity of 29.99%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.44 earnings per share. On average, equities analysts anticipate that McKesson Corporation will post $12.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Monday, June 5th will be given a $0.28 dividend. The ex-dividend date is Thursday, June 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. McKesson Corporation’s dividend payout ratio (DPR) is currently 4.80%.

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Several research analysts have recently issued reports on MCK shares. Vetr raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a research report on Thursday, May 25th. J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 target price for the company in a research report on Tuesday, May 23rd. Leerink Swann set a $140.00 target price on McKesson Corporation and gave the stock a “hold” rating in a research report on Friday, May 19th. Citigroup Inc. increased their target price on McKesson Corporation from $169.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. Finally, Zacks Investment Research lowered McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. McKesson Corporation currently has a consensus rating of “Hold” and a consensus price target of $170.89.

In other McKesson Corporation news, Chairman John H. Hammergren sold 19,316 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $162.31, for a total value of $3,135,179.96. Following the completion of the transaction, the chairman now owns 96,644 shares in the company, valued at $15,686,287.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman John H. Hammergren sold 100,500 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $150.44, for a total transaction of $15,119,220.00. Following the completion of the transaction, the chairman now owns 22,390 shares of the company’s stock, valued at approximately $3,368,351.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,648 shares of company stock valued at $24,773,475. Insiders own 1.15% of the company’s stock.

About McKesson Corporation

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MCK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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