KLP Kapitalforvaltning AS Buys 900 Shares of McKesson Corporation (NYSE:MCK)

KLP Kapitalforvaltning AS raised its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,810 shares of the company's stock after buying an additional 900 shares during the period. KLP Kapitalforvaltning AS's holdings in McKesson were worth $38,940,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter valued at $26,000. Millstone Evans Group LLC bought a new position in shares of McKesson in the fourth quarter valued at $28,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after buying an additional 41 shares in the last quarter. Graney & King LLC bought a new position in shares of McKesson in the fourth quarter valued at $38,000. Finally, CoreFirst Bank & Trust bought a new position in shares of McKesson in the fourth quarter valued at $67,000. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of MCK traded down $3.46 during trading hours on Thursday, hitting $710.55. The company's stock had a trading volume of 562,688 shares, compared to its average volume of 880,787. The company has a market cap of $88.90 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.43 and a beta of 0.48. The business has a 50 day simple moving average of $717.99 and a two-hundred day simple moving average of $669.79. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company's revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the company earned $6.18 earnings per share. Research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.71 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson's payout ratio is 10.99%.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the transaction, the executive vice president directly owned 2,544 shares of the company's stock, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the transaction, the chief financial officer directly owned 14,760 shares of the company's stock, valued at approximately $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,488 shares of company stock valued at $37,242,862 in the last three months. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MCK shares. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, UBS Group increased their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $710.17.

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.