Avanza Fonder AB Purchases Shares of 13,866 McKesson Co. (NYSE:MCK)

Avanza Fonder AB acquired a new stake in shares of McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 13,866 shares of the company's stock, valued at approximately $7,902,000.

Several other institutional investors have also added to or reduced their stakes in MCK. Distillate Capital Partners LLC increased its position in shares of McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock valued at $20,874,000 after buying an additional 35,712 shares during the period. Chase Investment Counsel Corp grew its holdings in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock worth $5,247,000 after acquiring an additional 3,027 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of McKesson by 2,143.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company's stock worth $851,000 after acquiring an additional 1,393 shares in the last quarter. Commerce Bank lifted its stake in shares of McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company's stock valued at $77,516,000 after purchasing an additional 3,020 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of McKesson during the second quarter valued at approximately $12,331,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Down 0.4 %

MCK stock traded down $2.50 on Friday, hitting $592.69. The company had a trading volume of 686,346 shares, compared to its average volume of 622,630. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a market cap of $75.24 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 1.26 and a beta of 0.52. The stock's 50-day simple moving average is $595.11 and its 200 day simple moving average is $561.34.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.23 EPS. Research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson's dividend payout ratio is presently 14.71%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on MCK. Morgan Stanley raised their price objective on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. StockNews.com raised shares of McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Finally, Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $646.14.

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.