McKesson Co. (NYSE:MCK) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 272.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,869 shares of the company's stock after purchasing an additional 157,921 shares during the period. McKesson accounts for approximately 0.6% of Handelsbanken Fonder AB's investment portfolio, making the stock its 27th biggest holding. Handelsbanken Fonder AB owned approximately 0.17% of McKesson worth $145,278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of McKesson during the fourth quarter worth $26,000. Millstone Evans Group LLC bought a new stake in McKesson during the 4th quarter valued at $28,000. Atala Financial Inc purchased a new stake in shares of McKesson in the fourth quarter worth approximately $34,000. Graney & King LLC bought a new stake in McKesson in the 4th quarter worth about $38,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of McKesson during the 4th quarter worth $44,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Trading Up 1.8%

Shares of MCK stock traded up $12.63 during trading hours on Thursday, reaching $730.39. 673,030 shares of the company's stock were exchanged, compared to its average volume of 941,929. The company has a market cap of $91.38 billion, a price-to-earnings ratio of 33.44, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.18. The stock's 50 day moving average is $700.42 and its 200-day moving average is $642.88.

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

McKesson Dividend Announcement

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

Analysts Set New Price Targets

MCK has been the topic of several analyst reports. Mizuho upped their price target on 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 upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Bank of America upped their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. UBS Group lifted their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $694.38.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas L. Rodgers sold 510 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $366,134.10. Following the completion of the sale, the executive vice president now owns 5,435 shares in the company, valued at $3,901,840.85. The trade was a 8.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is currently owned by insiders.

McKesson 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.