Swedbank AB Acquires 263,189 Shares of McKesson Corporation $MCK

Swedbank AB grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 42.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 886,283 shares of the company’s stock after acquiring an additional 263,189 shares during the period. McKesson comprises 0.7% of Swedbank AB’s holdings, making the stock its 25th largest holding. Swedbank AB’s holdings in McKesson were worth $727,009,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MCK. Brighton Jones LLC lifted its stake in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares in the last quarter. Caxton Associates LLP bought a new position in shares of McKesson in the first quarter valued at $233,000. Sivia Capital Partners LLC lifted its stake in shares of McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after buying an additional 300 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after buying an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in McKesson during the second quarter worth about $166,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 190 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total value of $179,550.00. Following the completion of the sale, the executive vice president directly owned 2,989 shares of the company’s stock, valued at approximately $2,824,605. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $955.00, for a total transaction of $313,240.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,592 shares of company stock valued at $3,518,555. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of MCK stock opened at $800.99 on Wednesday. The firm’s 50-day simple moving average is $891.94 and its two-hundred day simple moving average is $860.41. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm has a market cap of $98.11 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 1.17 and a beta of 0.35.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, topping analysts’ consensus estimates of $9.19 by $0.15. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. The firm had revenue of $106.16 billion for the quarter, compared to analyst estimates of $105.98 billion. During the same quarter in the prior year, the firm earned $8.03 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts forecast that McKesson Corporation will post 39.02 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 9.43%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MCK shares. Wells Fargo & Company boosted their price target on shares of McKesson from $914.00 to $925.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $983.00 to $1,107.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Bank of America cut their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Mizuho boosted their price target on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Barclays boosted their price target on shares of McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $972.27.

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.