Lansforsakringar Fondforvaltning AB publ Makes New $24.51 Million Investment in McKesson Co. (NYSE:MCK)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 43,009 shares of the company's stock, valued at approximately $24,511,000.

Other large investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in McKesson during the 4th quarter valued at about $26,000. Millstone Evans Group LLC acquired a new position in McKesson in the 4th quarter worth about $28,000. Synergy Asset Management LLC acquired a new position in McKesson in the 4th quarter worth about $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the fourth quarter valued at approximately $33,000. Finally, Atala Financial Inc acquired a new position in shares of McKesson during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MCK shares. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday. Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company boosted their target price on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Finally, Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average price target of $686.69.

McKesson Stock Up 1.0%

Shares of McKesson stock traded up $6.99 during trading hours on Friday, hitting $719.85. 1,322,227 shares of the company's stock traded hands, compared to its average volume of 916,780. The company has a market cap of $90.06 billion, a PE ratio of 32.96, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00. The stock has a 50 day simple moving average of $695.18 and a 200-day simple moving average of $637.96.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. McKesson's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.18 earnings per share. As a group, equities research analysts predict 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, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio (DPR) is 10.99%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 341 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the transaction, the executive vice president now directly owns 2,800 shares in the company, valued at $2,010,148. The trade was a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,856 shares of company stock worth $7,793,675. 0.11% of the stock is owned by insiders.

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.