Swedbank AB Has $727.01 Million Holdings in McKesson Corporation $MCK

Key Points

• Swedbank AB boosted its stake in McKesson by 42.2% in Q4 to 886,283 shares worth about $727.01 million, making McKesson its 25th-largest holding and ~0.72% of the company.
• Sell-side analysts hold a consensus rating of "Moderate Buy" with an average price target of $972.27 (14 Buys, 3 Holds), and several firms have recently adjusted targets and ratings.
• McKesson beat expectations in its most recent quarter with $9.34 EPS and revenue of $106.16 billion (up 11.4% y/y), while the company has a market cap near $98.1 billion.

Swedbank AB boosted its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 42.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 886,283 shares of the company's stock after acquiring an additional 263,189 shares during the period. McKesson accounts for 0.7% of Swedbank AB's investment portfolio, making the stock its 25th biggest holding. Swedbank AB owned approximately 0.72% of McKesson worth $727,009,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. SurgoCap Partners LP raised its position in shares of McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock valued at $349,390,000 after buying an additional 184,106 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company's stock valued at $354,839,000 after buying an additional 183,590 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new stake in McKesson in the third quarter valued at about $135,352,000. Danske Bank A S bought a new stake in McKesson in the third quarter valued at about $127,487,000. Finally, Wellington Management Group LLP increased its stake in McKesson by 32.9% in the third quarter. Wellington Management Group LLP now owns 618,984 shares of the company's stock valued at $478,190,000 after acquiring an additional 153,182 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MCK shares. TD Cowen upped their target price on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Weiss Ratings cut shares of McKesson from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, February 5th. William Blair initiated coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an "outperform" rating on the stock. Bank of America decreased their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $966.00 price objective on shares of McKesson in a research note on Thursday, January 29th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $972.27.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 328 shares of McKesson stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $955.00, for a total value of $313,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Martinez sold 349 shares of McKesson stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the transaction, the director directly owned 301 shares of the company's stock, valued at approximately $282,900.87. This trade represents a 53.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,592 shares of company stock valued at $3,518,555 over the last 90 days. 0.08% of the stock is owned by company insiders.

McKesson Trading Down 0.8%

NYSE:MCK opened at $800.99 on Wednesday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The stock has a 50-day moving average price of $891.94 and a two-hundred day moving average price of $860.41. The stock has a market cap of $98.11 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.17 and a beta of 0.35.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The company reported $9.34 earnings per share for the quarter, beating the consensus estimate of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The business had revenue of $106.16 billion for the quarter, compared to analysts' expectations of $105.98 billion. During the same quarter in the previous year, the business posted $8.03 EPS. McKesson's revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts forecast that McKesson Corporation will post 39.02 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson's payout ratio is currently 9.43%.

About McKesson

McKesson Corporation NYSE: MCK is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company's core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.

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