Livforsakringsbolaget Skandia Omsesidigt Raises Stock Position in McKesson Co. (NYSE:MCK)

Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 15.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,932 shares of the company's stock after buying an additional 2,900 shares during the period. McKesson makes up approximately 0.8% of Livforsakringsbolaget Skandia Omsesidigt's investment portfolio, making the stock its 21st largest position. Livforsakringsbolaget Skandia Omsesidigt's holdings in McKesson were worth $14,760,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after buying an additional 2,389,992 shares in the last quarter. Norges Bank acquired a new stake in shares of McKesson in the 4th quarter valued at approximately $1,200,361,000. Farallon Capital Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at approximately $348,044,000. Marshall Wace LLP boosted its stake in shares of McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after purchasing an additional 358,322 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC acquired a new stake in shares of McKesson in the 4th quarter valued at approximately $182,861,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Leann B. Smith sold 1,248 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the sale, the executive vice president now owns 2,621 shares in the company, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now 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. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 over the last quarter. Insiders own 0.11% of the company's stock.

McKesson Stock Performance

Shares of NYSE MCK traded up $11.72 during trading on Thursday, hitting $729.48. 390,918 shares of the company traded hands, compared to its average volume of 938,968. The business's fifty day moving average is $700.42 and its 200 day moving average is $642.88. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00. The firm has a market capitalization of $91.27 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data 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. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the prior year, the company posted $6.18 earnings per share. The business's revenue was up 18.9% on a year-over-year basis. On average, analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MCK shares. Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Three research 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 company. According to data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $694.38.

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.