Livforsakringsbolaget Skandia Omsesidigt Increases Stock Position in McKesson Co. (NYSE:MCK)

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of McKesson Co. (NYSE:MCK) by 67.2% in the 4th quarter, HoldingsChannel reports. The firm owned 19,032 shares of the company’s stock after purchasing an additional 7,650 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in McKesson were worth $10,839,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in McKesson during the fourth quarter worth approximately $32,000. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the 3rd quarter worth $29,000. Crews Bank & Trust purchased a new stake in McKesson during the 4th quarter worth $33,000. Wolff Wiese Magana LLC increased its stake in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter worth $31,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MCK. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Citigroup dropped their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, McKesson presently has a consensus rating of “Buy” and a consensus target price of $645.79.

McKesson Stock Down 1.3 %

McKesson stock opened at $598.85 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The business’s 50-day moving average price is $589.61 and its two-hundred day moving average price is $562.56. The stock has a market cap of $76.02 billion, a PE ratio of 31.01, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. As a group, analysts expect that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 14.71%.

About McKesson

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.