Handelsbanken Fonder AB Lowers Stock Position in McKesson Co. (NYSE:MCK)

Handelsbanken Fonder AB lowered its position in McKesson Co. (NYSE:MCK) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The firm 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. RFG Advisory LLC raised its holdings in shares of McKesson by 29.0% in the third quarter. RFG Advisory LLC now owns 1,471 shares of the company’s stock valued at $639,000 after purchasing an additional 331 shares during the last quarter. Leavell Investment Management Inc. bought a new position in McKesson during the third quarter valued at about $206,000. DAVENPORT & Co LLC grew its position in McKesson by 27.1% during the third quarter. DAVENPORT & Co LLC now owns 2,117 shares of the company’s stock valued at $920,000 after buying an additional 451 shares during the period. Park Place Capital Corp grew its position in McKesson by 17.4% during the third quarter. Park Place Capital Corp now owns 270 shares of the company’s stock valued at $117,000 after buying an additional 40 shares during the period. Finally, Avior Wealth Management LLC grew its position in McKesson by 50.0% during the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock valued at $37,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MCK. Barclays began coverage on shares of McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. UBS Group increased their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. SVB Leerink started coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. Mizuho increased their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $533.50.

McKesson Stock Performance

NYSE:MCK opened at $527.79 on Tuesday. The stock’s fifty day moving average is $525.58 and its 200 day moving average is $487.54. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00. The firm has a market capitalization of $69.36 billion, a PE ratio of 23.91, a PEG ratio of 1.42 and a beta of 0.45.

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

McKesson Dividend Announcement

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