Lansforsakringar Fondforvaltning AB publ Takes Position in McKesson Co. (NYSE:MCK)

Lansforsakringar Fondforvaltning AB publ acquired a new stake in McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 43,009 shares of the company’s stock, valued at approximately $24,511,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Cibc World Market Inc. boosted its position in shares of McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after purchasing an additional 1,207 shares in the last quarter. Brentview Investment Management LLC acquired a new stake in McKesson during the 4th quarter worth $3,018,000. Ingalls & Snyder LLC raised its stake in McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after buying an additional 1,047 shares during the period. Chicago Partners Investment Group LLC raised its stake in McKesson by 85.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock worth $745,000 after buying an additional 580 shares during the period. Finally, OLD National Bancorp IN raised its stake in McKesson by 7.3% during the 4th quarter. OLD National Bancorp IN now owns 8,196 shares of the company’s stock worth $4,671,000 after buying an additional 556 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 21st. UBS Group raised their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Mizuho raised their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Bank of America lifted their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Evercore ISI lifted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $686.69.

Insider Activity

In related news, EVP Leann B. Smith sold 1,248 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the transaction, the executive vice president now directly owns 2,621 shares in the company, valued at $1,880,043.30. This represents a 32.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares of the company’s stock, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,127 shares of company stock worth $5,834,498. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

Shares of MCK stock opened at $719.86 on Wednesday. The company has a market capitalization of $90.06 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00. The company has a 50-day simple moving average of $691.98 and a 200 day simple moving average of $635.78.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.18 EPS. Sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is presently 10.99%.

McKesson Company 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.