Handelsbanken Fonder AB Purchases 8,304 Shares of McKesson Co. (NYSE:MCK)

Handelsbanken Fonder AB boosted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,948 shares of the company's stock after acquiring an additional 8,304 shares during the period. Handelsbanken Fonder AB's holdings in McKesson were worth $33,025,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MCK. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the third quarter worth $31,000. Synergy Asset Management LLC bought a new stake in McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust acquired a new position in shares of McKesson in the 4th quarter valued at $33,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of McKesson during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of analyst reports. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Wells Fargo & Company upped their price objective on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday, December 13th. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective for the company. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $645.79.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares of the company's stock, valued at $869,854.83. This represents a 28.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,307 shares of company stock worth $6,177,790 in the last quarter. 0.11% of the stock is owned by company insiders.

McKesson Stock Down 1.0 %

MCK stock traded down $5.83 during trading on Friday, hitting $597.68. The company had a trading volume of 671,026 shares, compared to its average volume of 745,545. The stock has a market cap of $74.91 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.29 and a beta of 0.52. The firm has a 50-day moving average price of $588.60 and a 200-day moving average price of $562.48. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK - Get Free Report) 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 negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio (DPR) is presently 13.00%.

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.