McKesson Corporation $MCK Shares Acquired by Danske Bank A S

Danske Bank A S lifted its position in McKesson Corporation (NYSE:MCK) by 33.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 225,844 shares of the company’s stock after purchasing an additional 56,057 shares during the quarter. Danske Bank A S’s holdings in McKesson were worth $192,828,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. Secure Asset Management LLC raised its holdings in shares of McKesson by 484.8% during the second quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock worth $1,604,000 after purchasing an additional 1,760 shares during the last quarter. BayBridge Capital Group LLC boosted its holdings in McKesson by 268.0% in the second quarter. BayBridge Capital Group LLC now owns 1,943 shares of the company’s stock valued at $1,468,000 after purchasing an additional 1,415 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in McKesson by 1.1% in the second quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock valued at $84,809,000 after purchasing an additional 1,216 shares during the last quarter. Benchmark Investment Advisors LLC purchased a new stake in McKesson in the second quarter valued at $441,000. Finally, Counterpoint Mutual Funds LLC grew its position in McKesson by 18.9% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 11,235 shares of the company’s stock worth $9,593,000 after purchasing an additional 1,788 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the sale, the executive vice president directly owned 5,423 shares of the company’s stock, valued at approximately $5,400,223.40. This trade represents a 12.86% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer directly owned 521 shares in the company, valued at approximately $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 2,161 shares of company stock valued at $2,242,515. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

MCK has been the subject of a number of recent research reports. Morgan Stanley set a $977.00 price objective on McKesson in a research note on Tuesday, October 6th. Argus upped their target price on McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Citigroup raised their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Bank of America raised their target price on McKesson from $950.00 to $1,050.00 in a report on Thursday, August 6th. Finally, Robert W. Baird set a $1,015.00 price target on McKesson in a research report on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,040.29.

McKesson Stock Performance

NYSE MCK traded up $26.26 during mid-day trading on Friday, reaching $1,103.31. 527,403 shares of the stock were exchanged, compared to its average volume of 716,694. The company has a market capitalization of $127.39 billion, a P/E ratio of 28.37, a P/E/G ratio of 1.82 and a beta of 0.27. The business’s 50 day moving average is $955.45 and its 200-day moving average is $874.53. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,121.50.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 4th. The company reported $11.68 earnings per share for the quarter, beating analysts’ consensus estimates of $10.72 by $0.96. The company had revenue of $110.96 billion during the quarter, compared to analysts’ expectations of $109.90 billion. McKesson had a net margin of 1.12% and a negative return on equity of 202.94%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.86 earnings per share. Equities analysts predict that McKesson Corporation will post 46.16 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.3%. McKesson’s dividend payout ratio (DPR) is 9.67%.

McKesson Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.