McKesson Co. (NYSE:MCK) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its stake in McKesson Co. (NYSE:MCKGet Rating) by 9.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 44,947 shares of the company’s stock after selling 4,700 shares during the quarter. Forsta AP Fonden’s holdings in McKesson were worth $13,760,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of McKesson by 2.1% in the 4th quarter. BlackRock Inc. now owns 13,171,252 shares of the company’s stock valued at $3,273,976,000 after buying an additional 269,506 shares during the period. State Street Corp lifted its stake in McKesson by 1.0% during the fourth quarter. State Street Corp now owns 6,808,394 shares of the company’s stock worth $1,695,505,000 after purchasing an additional 68,645 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in McKesson by 3.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,705,025 shares of the company’s stock worth $1,418,098,000 after purchasing an additional 168,279 shares during the last quarter. Geode Capital Management LLC lifted its stake in McKesson by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,822,874 shares of the company’s stock worth $699,869,000 after purchasing an additional 14,676 shares during the last quarter. Finally, Norges Bank purchased a new stake in McKesson during the fourth quarter worth approximately $386,729,000. Hedge funds and other institutional investors own 85.45% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 209 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $326.90, for a total value of $68,322.10. Following the transaction, the executive vice president now directly owns 3,353 shares in the company, valued at approximately $1,096,095.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 1,535 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $305.20, for a total transaction of $468,482.00. Following the completion of the sale, the chief executive officer now owns 75,737 shares in the company, valued at approximately $23,114,932.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas L. Rodgers sold 209 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $326.90, for a total value of $68,322.10. Following the sale, the executive vice president now owns 3,353 shares of the company’s stock, valued at approximately $1,096,095.70. The disclosure for this sale can be found here. Insiders have sold a total of 72,628 shares of company stock worth $23,779,745 in the last three months. 0.21% of the stock is currently owned by company insiders.

McKesson Stock Up 2.6 %

Shares of NYSE:MCK opened at $346.69 on Friday. McKesson Co. has a 52-week low of $192.38 and a 52-week high of $348.49. The stock’s fifty day simple moving average is $324.08 and its 200-day simple moving average is $306.13. The company has a market capitalization of $49.78 billion, a P/E ratio of 36.65, a P/E/G ratio of 1.52 and a beta of 0.63.

McKesson (NYSE:MCKGet Rating) last released its earnings results on Thursday, May 5th. The company reported $5.83 earnings per share for the quarter, missing the consensus estimate of $6.06 by ($0.23). McKesson had a negative return on equity of 350.22% and a net margin of 0.52%. The business had revenue of $66.10 billion for the quarter, compared to analysts’ expectations of $63.82 billion. During the same quarter last year, the company posted $5.05 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that McKesson Co. will post 23.27 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.62%. This is an increase from McKesson’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, August 31st. McKesson’s dividend payout ratio (DPR) is 19.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Cowen boosted their target price on McKesson from $325.00 to $361.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. Morgan Stanley boosted their price objective on McKesson from $292.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday, April 12th. Robert W. Baird boosted their price objective on McKesson from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded McKesson from a “hold” rating to a “buy” rating and boosted their price objective for the company from $343.00 to $378.00 in a research note on Tuesday, June 7th. Finally, Credit Suisse Group boosted their price objective on McKesson from $333.00 to $377.00 in a research note on Wednesday, May 11th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $332.85.

About McKesson

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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