Livforsakringsbolaget Skandia Omsesidigt Has $14.76 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of McKesson Co. (NYSE:MCK) by 15.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 21,932 shares of the company’s stock after acquiring an additional 2,900 shares during the period. McKesson makes up approximately 0.8% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio, making the stock its 21st biggest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in McKesson were worth $14,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCK. GAMMA Investing LLC grew its stake in shares of McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock worth $1,610,567,000 after buying an additional 2,389,992 shares during the last quarter. Norges Bank bought a new stake in shares of McKesson during the fourth quarter worth $1,200,361,000. Farallon Capital Management LLC acquired a new position in shares of McKesson during the fourth quarter worth $348,044,000. Marshall Wace LLP lifted its holdings in shares of McKesson by 59,720.3% during the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after purchasing an additional 358,322 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new position in shares of McKesson during the fourth quarter worth $182,861,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now directly owns 1,972 shares of the company’s stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 510 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $366,134.10. Following the sale, the executive vice president now directly owns 5,435 shares of the company’s stock, valued at approximately $3,901,840.85. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,117 shares of company stock valued at $23,526,451. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.7%

MCK opened at $707.79 on Tuesday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00. The company has a market cap of $88.55 billion, a P/E ratio of 32.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The company has a fifty day moving average price of $699.96 and a two-hundred day moving average price of $641.93.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is currently 10.99%.

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. UBS Group lifted their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Finally, Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $692.46.

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.