Lansforsakringar Fondforvaltning AB publ lowered its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,254 shares of the company's stock after selling 755 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in McKesson were worth $28,437,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC grew its stake in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in McKesson during the 4th quarter valued at about $26,000. Bank of Jackson Hole Trust grew its stake in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after acquiring an additional 18 shares in the last quarter. Pandora Wealth Inc. purchased a new stake in McKesson during the 1st quarter valued at about $40,000. Finally, Dagco Inc. purchased a new stake in McKesson during the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 85.07% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Cowen reiterated a "buy" rating on shares of McKesson in a report on Thursday, August 7th. Morgan Stanley reiterated an "overweight" rating and issued a $810.00 target price (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Finally, Evercore ISI boosted their target price on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $725.10.
Check Out Our Latest Analysis on MCK
Insider Buying and Selling
In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,930 shares of company stock worth $44,112,466. 0.08% of the stock is owned by company insiders.
McKesson Price Performance
Shares of MCK stock traded up $5.58 during trading hours on Tuesday, hitting $691.40. The company had a trading volume of 498,063 shares, compared to its average volume of 889,260. The company's fifty day moving average is $701.72 and its 200 day moving average is $689.22. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The stock has a market capitalization of $86.00 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51.
McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same quarter in the prior year, the company posted $7.88 earnings per share. The business's revenue was up 23.4% compared to the same quarter last year. Equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.
McKesson Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. This is an increase from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio (DPR) is currently 11.32%.
McKesson Profile
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Free Report)
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.
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