Skandinaviska Enskilda Banken AB publ Purchases 116,555 Shares of McKesson Co. (NYSE:MCK)

Skandinaviska Enskilda Banken AB publ grew its position in McKesson Co. (NYSE:MCK) by 61.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 304,833 shares of the company’s stock after buying an additional 116,555 shares during the quarter. McKesson accounts for 0.9% of Skandinaviska Enskilda Banken AB publ’s holdings, making the stock its 22nd largest holding. Skandinaviska Enskilda Banken AB publ owned about 0.23% of McKesson worth $178,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. AE Wealth Management LLC raised its holdings in shares of McKesson by 38.7% in the 2nd quarter. AE Wealth Management LLC now owns 7,951 shares of the company’s stock valued at $4,644,000 after purchasing an additional 2,217 shares in the last quarter. King Luther Capital Management Corp raised its stake in McKesson by 1,279.3% in the second quarter. King Luther Capital Management Corp now owns 14,359 shares of the company’s stock worth $8,386,000 after buying an additional 13,318 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in McKesson by 6.2% during the second quarter. Canada Pension Plan Investment Board now owns 264,335 shares of the company’s stock worth $154,382,000 after buying an additional 15,423 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of McKesson by 24.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,723 shares of the company’s stock valued at $2,174,000 after acquiring an additional 725 shares during the period. Finally, Ieq Capital LLC raised its position in shares of McKesson by 12.5% in the 2nd quarter. Ieq Capital LLC now owns 7,761 shares of the company’s stock worth $4,532,000 after acquiring an additional 861 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $507.95 on Friday. The firm’s fifty day moving average is $561.63 and its two-hundred day moving average is $557.00. The firm has a market cap of $66.00 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same period last year, the company earned $7.27 earnings per share. McKesson’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. McKesson’s dividend payout ratio is 12.69%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MCK. 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. JPMorgan Chase & Co. increased their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI cut their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America raised their price objective on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $620.93.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 11,259 shares of company stock valued at $6,635,492. Corporate insiders own 0.11% of the company’s stock.

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.