Tredje AP fonden Purchases 10,869 Shares of McKesson Corporation (NYSE:MCK)

Tredje AP fonden lifted its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 9.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,444 shares of the company's stock after purchasing an additional 10,869 shares during the period. Tredje AP fonden owned 0.10% of McKesson worth $85,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. lifted its holdings in shares of McKesson by 54.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after purchasing an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after purchasing an additional 111 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after purchasing an additional 3,659 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after purchasing an additional 7,556 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of McKesson by 12.8% during the first quarter. LPL Financial LLC now owns 155,946 shares of the company's stock valued at $104,950,000 after purchasing an additional 17,750 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the subject of several recent research reports. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. UBS Group boosted their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Evercore ISI boosted their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $710.17.

McKesson Trading Down 3.0%

NYSE:MCK traded down $21.35 during trading hours on Thursday, reaching $693.57. The company had a trading volume of 1,153,226 shares, compared to its average volume of 521,236. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The firm has a market cap of $86.77 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.45 and a beta of 0.48. The firm's 50 day moving average price is $717.25 and its 200-day moving average price is $674.13.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the firm posted $6.18 EPS. The firm's revenue was up 18.9% on a year-over-year basis. On average, analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. McKesson's payout ratio is presently 10.99%.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer owned 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the sale, the chief executive officer directly owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,488 shares of company stock worth $37,242,862. Company insiders own 0.08% of the company's stock.

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.