APG Asset Management US Inc. Has $37.37 Million Position in McKesson Co. (NYSE:MCK)

APG Asset Management US Inc. increased its position in shares of McKesson Co. (NYSE:MCK) by 2.1% during the second quarter, HoldingsChannel.com reports. The firm owned 63,727 shares of the company’s stock after buying an additional 1,310 shares during the period. APG Asset Management US Inc.’s holdings in McKesson were worth $37,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after buying an additional 62,875 shares in the last quarter. Fred Alger Management LLC increased its stake in McKesson by 5.3% in the second quarter. Fred Alger Management LLC now owns 242,262 shares of the company’s stock valued at $141,491,000 after acquiring an additional 12,114 shares during the period. Zurich Insurance Group Ltd FI lifted its stake in McKesson by 38.5% during the second quarter. Zurich Insurance Group Ltd FI now owns 133,141 shares of the company’s stock worth $77,760,000 after purchasing an additional 37,027 shares during the period. Insigneo Advisory Services LLC boosted its holdings in McKesson by 25.8% during the second quarter. Insigneo Advisory Services LLC now owns 804 shares of the company’s stock valued at $493,000 after purchasing an additional 165 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of McKesson by 57.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 25,170 shares of the company’s stock valued at $14,700,000 after purchasing an additional 9,233 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Mizuho lifted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday. Bank of America upped their target price on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Barclays increased their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $613.36.

McKesson Trading Down 0.3 %

Shares of MCK opened at $479.24 on Thursday. The company has a market cap of $62.15 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.18 and a beta of 0.44. The company’s fifty day simple moving average is $556.72 and its 200 day simple moving average is $556.74. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $7.27 EPS. As a group, research analysts forecast that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.59%. McKesson’s payout ratio is presently 12.69%.

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 Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 11,259 shares of company stock worth $6,635,492. Company insiders own 0.11% of the company’s stock.

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.