Robeco Institutional Asset Management B.V. Decreases Stake in McKesson Co. (NYSE:MCK)

Robeco Institutional Asset Management B.V. reduced its stake in McKesson Co. (NYSE:MCK) by 27.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,458 shares of the company’s stock after selling 88,176 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.18% of McKesson worth $131,910,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MCK. Massachusetts Financial Services Co. MA increased its stake in shares of McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after buying an additional 138,685 shares during the period. FMR LLC increased its stake in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares during the period. Geode Capital Management LLC increased its stake in shares of McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock valued at $1,306,873,000 after buying an additional 26,299 shares during the period. The Manufacturers Life Insurance Company grew its stake in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares during the period. Finally, Nordea Investment Management AB grew its stake in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the topic of several recent research reports. Leerink Partners reduced their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Price Performance

Shares of NYSE:MCK opened at $602.94 on Wednesday. The company has a market cap of $76.54 billion, a P/E ratio of 31.22, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The stock’s fifty day moving average price is $592.16 and its 200-day moving average price is $561.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $6.23 earnings per share. On average, sell-side analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.