McKesson Corporation $MCK Shares Bought by Danske Bank A S

Danske Bank A S boosted its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 33.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,844 shares of the company's stock after acquiring an additional 56,057 shares during the period. Danske Bank A S owned about 0.20% of McKesson worth $192,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of McKesson in the 2nd quarter worth approximately $8,156,743,000. Bank of America Corp DE purchased a new position in McKesson during the second quarter valued at approximately $998,896,000. Legal & General Group Plc purchased a new position in McKesson during the second quarter valued at approximately $656,566,000. The Manufacturers Life Insurance Company purchased a new position in McKesson during the second quarter valued at approximately $651,462,000. Finally, Bank of New York Mellon Corp bought a new position in McKesson in the second quarter worth approximately $599,060,000. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on MCK shares. TD Cowen upped their target price on McKesson from $1,006.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, November 5th. JPMorgan Chase & Co. lifted their price target on McKesson from $1,042.00 to $1,255.00 and gave the company an "overweight" rating in a report on Tuesday, November 10th. Evercore reissued an "outperform" rating and issued a $950.00 price target (down from $1,000.00) on shares of McKesson in a research report on Thursday, August 6th. Wells Fargo & Company boosted their price target on McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded McKesson from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, November 9th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,040.29.

McKesson Stock Up 2.4%

Shares of NYSE MCK traded up $26.26 during trading hours on Friday, hitting $1,103.31. 527,403 shares of the stock were exchanged, compared to its average volume of 716,694. McKesson Corporation has a 12 month low of $723.68 and a 12 month high of $1,121.50. The firm has a fifty day moving average price of $955.45 and a 200-day moving average price of $874.53. The company has a market cap of $127.39 billion, a PE ratio of 28.37, a PEG ratio of 1.82 and a beta of 0.27.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share for the quarter, beating the consensus estimate of $10.72 by $0.96. McKesson had a net margin of 1.12% and a negative return on equity of 202.94%. The company had revenue of $110.96 billion during the quarter, compared to the consensus estimate of $109.90 billion. During the same period last year, the firm earned $9.86 earnings per share. McKesson's revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts anticipate that McKesson Corporation will post 46.16 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, December 1st. McKesson's payout ratio is 9.67%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Francisco Fraga sold 800 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the completion of the sale, the executive vice president directly owned 5,423 shares in the company, valued at approximately $5,400,223.40. This trade represents a 12.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. The trade was a 17.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 2,161 shares of company stock worth $2,242,515. 0.06% of the stock is owned by company insiders.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.

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