E. Ohman J or Asset Management AB Lowers Stake in McKesson Co. (NYSE:MCK)

E. Ohman J or Asset Management AB lowered its stake in shares of McKesson Co. (NYSE:MCK) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,140 shares of the company’s stock after selling 510 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in McKesson were worth $2,541,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. RFP Financial Group LLC raised its position in McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after purchasing an additional 17 shares during the period. Modera Wealth Management LLC raised its position in McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares during the period. Larson Financial Group LLC raised its position in McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares during the period. First Western Trust Bank raised its position in McKesson by 2.0% in the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after purchasing an additional 18 shares during the period. Finally, KCM Investment Advisors LLC raised its position in McKesson by 1.4% in the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several recent analyst reports. Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Citigroup lowered their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Mizuho upped their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Evercore ISI decreased their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by insiders.

McKesson Stock Up 0.5 %

NYSE:MCK opened at $507.41 on Friday. The company’s 50 day moving average price is $517.48 and its 200-day moving average price is $551.05. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The stock has a market cap of $65.93 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion for 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%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.27 earnings per share. As a group, sell-side analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were given a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. McKesson’s dividend payout ratio is 12.69%.

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.