Avanza Fonder AB Has $8.56 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Avanza Fonder AB cut its holdings in McKesson Co. (NYSE:MCK - Free Report) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,335 shares of the company's stock after selling 1,531 shares during the quarter. Avanza Fonder AB's holdings in McKesson were worth $8,555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of McKesson by 15.2% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 21,932 shares of the company's stock worth $14,760,000 after acquiring an additional 2,900 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in McKesson during the 1st quarter worth $410,000. GAMMA Investing LLC boosted its position in McKesson by 12.5% in the 1st quarter. GAMMA Investing LLC now owns 3,556 shares of the company's stock valued at $2,393,000 after buying an additional 396 shares during the last quarter. Signet Financial Management LLC increased its stake in shares of McKesson by 1.8% in the 1st quarter. Signet Financial Management LLC now owns 4,140 shares of the company's stock valued at $2,786,000 after buying an additional 75 shares during the period. Finally, Fourpath Capital Management LLC bought a new stake in shares of McKesson during the first quarter worth $2,779,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 341 shares of McKesson stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president now directly owns 2,800 shares in the company, valued at approximately $2,010,148. The trade was a 10.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the transaction, the chief executive officer now owns 51,243 shares of the company's stock, valued at $36,173,970.99. The trade was a 27.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock valued at $23,526,451 over the last 90 days. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MCK shares. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Mizuho increased their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Finally, Bank of America raised 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. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $694.38.

McKesson Trading Up 1.8%

Shares of NYSE MCK traded up $12.63 during mid-day trading on Thursday, reaching $730.39. 648,894 shares of the company's stock were exchanged, compared to its average volume of 918,814. The business has a fifty day simple moving average of $700.42 and a 200 day simple moving average of $642.88. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.17. The firm has a market capitalization of $91.38 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $94 billion. During the same quarter in the previous year, the firm posted $6.18 earnings per share. The business's revenue was up 18.9% on a year-over-year basis. Equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

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.