McKesson Corporation $MCK Stock Acquired by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab boosted its position in McKesson Corporation (NYSE:MCK) by 27.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,026 shares of the company’s stock after purchasing an additional 17,480 shares during the period. McKesson accounts for about 1.1% of Danica Pension Livsforsikringsaktieselskab’s portfolio, making the stock its 17th biggest holding. Danica Pension Livsforsikringsaktieselskab’s holdings in McKesson were worth $70,035,000 at the end of the most recent reporting period.

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

McKesson Stock Performance

Shares of MCK stock traded up $26.26 during mid-day trading on Friday, hitting $1,103.31. The company’s stock had a trading volume of 527,403 shares, compared to its average volume of 716,694. The company has a market cap of $127.39 billion, a PE ratio of 28.37, a P/E/G ratio of 1.82 and a beta of 0.27. The company’s fifty day simple moving average is $955.45 and its 200-day simple moving average is $874.53. McKesson Corporation has a 52 week low of $723.68 and a 52 week high of $1,121.50.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 4th. The company reported $11.68 EPS for the quarter, beating the consensus estimate of $10.72 by $0.96. McKesson had a negative return on equity of 202.94% and a net margin of 1.12%. The company had revenue of $110.96 billion for the quarter, compared to analyst estimates of $109.90 billion. During the same quarter in the prior year, the company earned $9.86 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts anticipate that McKesson Corporation will post 46.16 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling

In other McKesson news, EVP Francisco Fraga sold 650 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $1,102.96, for a total transaction of $716,924.00. Following the transaction, the executive vice president directly owned 4,414 shares in the company, valued at approximately $4,868,465.44. This represents a 12.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares of the company’s stock, valued at approximately $464,445.45. This trade represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 2,161 shares of company stock valued at $2,242,515. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent research reports. Leerink Partners lifted their target price on shares of McKesson from $1,070.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Royal Bank Of Canada upped their price target on shares of McKesson from $845.00 to $965.00 and gave the company a “sector perform” rating in a research report on Thursday, November 5th. Mizuho raised their price target on shares of McKesson from $905.00 to $1,020.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. JPMorgan Chase & Co. lifted their price target on shares of McKesson from $1,042.00 to $1,255.00 and gave the stock an “overweight” rating in a report on Tuesday, November 10th. Finally, Barclays boosted their price objective on shares of McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,040.29.

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.