Handelsbanken Fonder AB Has $33.03 Million Stake in McKesson Co. (NYSE:MCK)

Handelsbanken Fonder AB grew its holdings in McKesson Co. (NYSE:MCK) by 16.7% during the 4th quarter, HoldingsChannel reports. The firm owned 57,948 shares of the company’s stock after acquiring an additional 8,304 shares during the quarter. Handelsbanken Fonder AB’s holdings in McKesson were worth $33,025,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC grew its holdings in McKesson by 3.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,594 shares of the company’s stock valued at $3,260,000 after buying an additional 226 shares during the last quarter. Eastern Bank bought a new stake in shares of McKesson in the third quarter valued at approximately $258,000. Lecap Asset Management Ltd. bought a new position in McKesson during the third quarter worth $1,583,000. Commerzbank Aktiengesellschaft FI raised its stake in McKesson by 50.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 627 shares of the company’s stock valued at $311,000 after purchasing an additional 209 shares during the last quarter. Finally, Courier Capital LLC boosted its holdings in McKesson by 10.3% in the 3rd quarter. Courier Capital LLC now owns 1,075 shares of the company’s stock valued at $532,000 after purchasing an additional 100 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCK. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Citigroup lowered their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America reduced their target price 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 research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Transactions at McKesson

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

McKesson Stock Up 0.2 %

Shares of McKesson stock opened at $603.68 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a market capitalization of $75.66 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52. The company has a 50-day simple moving average of $588.60 and a 200 day simple moving average of $562.48.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 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.