Handelsbanken Fonder AB Has $23.09 Million Stake in McKesson Co. (NYSE:MCK)

Handelsbanken Fonder AB trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,866 shares of the company’s stock after selling 1,121 shares during the period. Handelsbanken Fonder AB’s holdings in McKesson were worth $23,087,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. RFG Advisory LLC raised its stake in shares of McKesson by 29.0% during the third quarter. RFG Advisory LLC now owns 1,471 shares of the company’s stock worth $639,000 after buying an additional 331 shares during the last quarter. Leavell Investment Management Inc. bought a new stake in shares of McKesson during the third quarter worth approximately $206,000. DAVENPORT & Co LLC raised its stake in shares of McKesson by 27.1% during the third quarter. DAVENPORT & Co LLC now owns 2,117 shares of the company’s stock worth $920,000 after buying an additional 451 shares during the last quarter. Park Place Capital Corp raised its stake in shares of McKesson by 17.4% during the third quarter. Park Place Capital Corp now owns 270 shares of the company’s stock worth $117,000 after buying an additional 40 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of McKesson by 50.0% during the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after buying an additional 28 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. Citigroup upped their target price on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price for the company. Mizuho upped their target price on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, Argus increased their price objective on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $533.50.

McKesson Trading Up 0.6 %

Shares of MCK opened at $527.79 on Tuesday. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $543.00. The firm has a fifty day simple moving average of $525.58 and a 200 day simple moving average of $487.54. The stock has a market capitalization of $69.36 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The firm had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $6.90 earnings per share. As a group, research analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

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.