Swedbank AB trimmed its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 27.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 650,670 shares of the company's stock after selling 250,013 shares during the quarter. Swedbank AB owned about 0.51% of McKesson worth $370,823,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the third quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in McKesson in the third quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC raised its position in McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company's stock worth $47,000 after acquiring an additional 28 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.
Insider Transactions at McKesson
In other 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.
McKesson Price Performance
Shares of MCK stock traded up $0.84 during trading on Wednesday, reaching $603.79. The company had a trading volume of 556,073 shares, compared to its average volume of 665,398. The firm's 50 day simple moving average is $592.16 and its two-hundred day simple moving average is $561.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The company has a market capitalization of $76.64 billion, a PE ratio of 31.27, a PEG ratio of 1.26 and a beta of 0.52.
McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm's revenue was up 21.3% compared to the same quarter last year. During the same period last year, the business earned $6.23 EPS. Analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.
McKesson Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson's payout ratio is presently 14.71%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on MCK. StockNews.com upgraded shares of McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price on the stock. Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Robert W. Baird upgraded shares of 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 report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average target price of $646.14.
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About McKesson
(
Free Report)
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.
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