BI Asset Management Fondsmaeglerselskab A S Has $3.74 Million Stock Holdings in McKesson Co. (NYSE:MCK)

BI Asset Management Fondsmaeglerselskab A S cut its position in McKesson Co. (NYSE:MCK - Free Report) by 64.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,570 shares of the company's stock after selling 11,929 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in McKesson were worth $3,744,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC increased its holdings in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after purchasing an additional 17 shares in the last quarter. Old North State Trust LLC increased its stake in shares of McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after buying an additional 18 shares in the last quarter. Trust Co. of Vermont lifted its position in McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after buying an additional 18 shares in the last quarter. Hemington Wealth Management grew its holdings in McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after acquiring an additional 18 shares during the last quarter. Finally, First Western Trust Bank increased its position in McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after acquiring an additional 18 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 0.9 %

Shares of MCK traded up $6.19 during trading hours on Friday, reaching $694.62. The stock had a trading volume of 731,510 shares, compared to its average volume of 892,117. The company has a market cap of $87.05 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The firm has a 50-day moving average of $661.28 and a 200 day moving average of $606.43.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio is 13.00%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 over the last ninety days. Company insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCK. Morgan Stanley increased their price target on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Bank of America boosted their target price on McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Mizuho boosted their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $668.50.

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.