Livforsakringsbolaget Skandia Omsesidigt Buys 119 Shares of McKesson Co. (NYSE:MCK)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in McKesson Co. (NYSE:MCK) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,582 shares of the company’s stock after acquiring an additional 119 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in McKesson were worth $3,973,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after buying an additional 708,438 shares during the last quarter. Morgan Stanley grew its stake in McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Norges Bank purchased a new stake in McKesson during the 4th quarter valued at about $633,960,000. Northern Trust Corp grew its stake in McKesson by 3.3% during the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after purchasing an additional 50,265 shares during the last quarter. Finally, Boston Partners grew its stake in McKesson by 12.5% during the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after purchasing an additional 133,351 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays assumed coverage on McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Citigroup boosted their price objective on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, February 8th. SVB Leerink initiated coverage on McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Finally, Mizuho boosted their price objective on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $533.50.

Insider Activity

In other news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

McKesson Price Performance

NYSE MCK traded down $2.43 during trading hours on Wednesday, reaching $525.92. The company’s stock had a trading volume of 537,971 shares, compared to its average volume of 690,169. The firm has a market capitalization of $69.11 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 1.42 and a beta of 0.45. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $543.00. The company’s 50-day moving average is $523.77 and its two-hundred day moving average is $485.19.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the prior year, the firm posted $6.90 EPS. McKesson’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities analysts forecast that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is currently 11.24%.

McKesson 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.