Swedbank AB Has $445.32 Million Position in McKesson Co. (NYSE:MCK)

Swedbank AB lessened its position in McKesson Co. (NYSE:MCK) by 24.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 900,683 shares of the company’s stock after selling 295,185 shares during the quarter. Swedbank AB owned approximately 0.69% of McKesson worth $445,316,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. LRI Investments LLC bought a new stake in shares of McKesson in the first quarter worth $28,000. Register Financial Advisors LLC bought a new stake in McKesson during the 1st quarter worth about $29,000. Richardson Financial Services Inc. acquired a new position in shares of McKesson during the 4th quarter worth about $31,000. Rise Advisors LLC bought a new position in shares of McKesson in the 1st quarter valued at about $40,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of McKesson in the third quarter valued at about $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

NYSE:MCK traded up $4.63 during mid-day trading on Tuesday, hitting $513.91. 564,945 shares of the stock were exchanged, compared to its average volume of 805,758. The firm’s 50-day simple moving average is $526.66 and its 200 day simple moving average is $552.88. The stock has a market capitalization of $66.78 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter last year, the firm earned $7.27 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. On average, analysts predict that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.55%. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s payout ratio is presently 12.69%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MCK. Mizuho increased their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Argus boosted their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Wells Fargo & Company cut their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. StockNews.com downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Bank of America upped their target price on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

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.