McKesson Co. (NYSE:MCK) Shares Sold by Swedbank AB

Swedbank AB reduced its stake in shares of McKesson Co. (NYSE:MCK) by 27.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 650,670 shares of the company’s stock after selling 250,013 shares during the quarter. Swedbank AB owned about 0.51% of McKesson worth $370,823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McKinley Carter Wealth Services Inc. raised its stake in McKesson by 0.4% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 13,748 shares of the company’s stock worth $7,835,000 after purchasing an additional 61 shares during the period. R Squared Ltd acquired a new position in McKesson during the 4th quarter valued at approximately $171,000. Gateway Wealth Partners LLC acquired a new position in shares of McKesson during the fourth quarter worth approximately $201,000. Patriot Financial Group Insurance Agency LLC boosted its position in shares of McKesson by 9.1% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,578 shares of the company’s stock valued at $899,000 after purchasing an additional 132 shares in the last quarter. Finally, Nilsine Partners LLC grew its holdings in shares of McKesson by 5.7% in the 4th quarter. Nilsine Partners LLC now owns 4,450 shares of the company’s stock worth $2,536,000 after acquiring an additional 241 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

NYSE:MCK traded down $2.25 during trading hours on Wednesday, hitting $600.70. The company had a trading volume of 50,141 shares, compared to its average volume of 636,320. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock has a 50-day moving average price of $592.16 and a 200 day moving average price of $561.52. The company has a market capitalization of $76.25 billion, a PE ratio of 31.10, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.23 earnings per share. Analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is 14.71%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Evercore ISI boosted their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

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.