Handelsbanken Fonder AB Sells 577 Shares of McKesson Co. (NYSE:MCK)

Handelsbanken Fonder AB trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,644 shares of the company’s stock after selling 577 shares during the quarter. Handelsbanken Fonder AB’s holdings in McKesson were worth $24,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of McKesson in the 4th quarter worth approximately $31,000. Rise Advisors LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $40,000. Finally, ZRC Wealth Management LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $48,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK stock traded up $3.15 during mid-day trading on Friday, hitting $485.42. The company’s stock had a trading volume of 905,019 shares, compared to its average volume of 809,899. The stock has a market cap of $63.07 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The business has a 50-day moving average price of $540.73 and a 200 day moving average price of $554.19.

McKesson (NYSE:MCK) last issued 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. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.27 EPS. Equities research analysts predict that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is 12.69%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MCK shares. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Wells Fargo & Company lowered their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Leerink Partners decreased their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Mizuho lifted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird restated a “neutral” rating and issued a $531.00 price objective (down previously from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $613.36.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 82,339 shares in the company, valued at $51,546,684.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

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.