McKesson Corporation $MCK Stock Holdings Raised by Swedbank AB

Swedbank AB lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 623,094 shares of the company’s stock after buying an additional 27,779 shares during the quarter. Swedbank AB’s holdings in McKesson were worth $481,365,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MCK. Solstein Capital LLC raised its stake in McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. State of Wyoming bought a new stake in shares of McKesson in the 2nd quarter valued at approximately $29,000. GFG Capital LLC acquired a new stake in shares of McKesson during the 2nd quarter valued at approximately $30,000. Saudi Central Bank bought a new position in McKesson during the first quarter worth $34,000. Finally, Delos Wealth Advisors LLC bought a new position in McKesson during the second quarter worth $35,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on MCK. Barclays assumed coverage on shares of McKesson in a report on Monday, December 8th. They set an “overweight” rating and a $960.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Cowen restated a “buy” rating on shares of McKesson in a research note on Monday. Jefferies Financial Group increased their price target on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Robert W. Baird raised their price target on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $892.86.

McKesson Trading Up 0.9%

Shares of NYSE:MCK opened at $825.44 on Wednesday. The firm’s 50 day moving average is $828.10 and its two-hundred day moving average is $753.59. The firm has a market capitalization of $101.88 billion, a P/E ratio of 25.69, a PEG ratio of 1.35 and a beta of 0.38. McKesson Corporation has a 52 week low of $565.75 and a 52 week high of $895.58.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The business had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $7.07 EPS. Analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is 10.21%.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.