McKesson Co. (NYSE:MCK) Holdings Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in McKesson Co. (NYSE:MCK) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,948 shares of the company’s stock after acquiring an additional 8,304 shares during the period. Handelsbanken Fonder AB’s holdings in McKesson were worth $33,025,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its position in shares of McKesson by 3.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,594 shares of the company’s stock valued at $3,260,000 after purchasing an additional 226 shares during the period. Eastern Bank bought a new position in McKesson during the third quarter valued at about $258,000. Lecap Asset Management Ltd. acquired a new position in McKesson during the third quarter worth about $1,583,000. Commerzbank Aktiengesellschaft FI raised its position in McKesson by 50.0% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 627 shares of the company’s stock worth $311,000 after acquiring an additional 209 shares in the last quarter. Finally, Courier Capital LLC lifted its holdings in McKesson by 10.3% in the 3rd quarter. Courier Capital LLC now owns 1,075 shares of the company’s stock valued at $532,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,307 shares of company stock worth $6,177,790. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Up 0.2 %

Shares of NYSE:MCK opened at $603.68 on Friday. The business has a fifty day simple moving average of $588.60 and a 200 day simple moving average of $562.48. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm has a market cap of $75.66 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 1.28 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 13.00%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson 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.