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

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 15.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,932 shares of the company’s stock after buying an additional 2,900 shares during the period. McKesson comprises 0.8% of Livforsakringsbolaget Skandia Omsesidigt’s holdings, making the stock its 21st largest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in McKesson were worth $14,760,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Parallel Advisors LLC boosted its stake in shares of McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock worth $1,683,000 after buying an additional 16 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after buying an additional 17 shares during the last quarter. Eagle Rock Investment Company LLC lifted its stake in McKesson by 0.4% in the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company’s stock valued at $3,229,000 after purchasing an additional 17 shares during the last quarter. Hemington Wealth Management lifted its stake in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after purchasing an additional 18 shares during the last quarter. Finally, First Western Trust Bank lifted its stake in McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock valued at $531,000 after purchasing an additional 18 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 0.7%

McKesson stock opened at $707.79 on Tuesday. The stock has a market cap of $88.55 billion, a P/E ratio of 32.41, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00. The company’s 50-day moving average price is $699.96 and its two-hundred day moving average price is $641.93.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping 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 company had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same period last year, the firm earned $6.18 earnings per share. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson’s dividend payout ratio is presently 10.99%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MCK shares. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an “equal weight” rating in a research note on Tuesday, June 3rd. Bank of America raised their target price on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. UBS Group raised their target price on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Morgan Stanley raised their target price on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Three 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $692.46.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 19,370 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the transaction, the chief executive officer now directly owns 51,243 shares of the company’s stock, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now owns 1,972 shares in the company, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is currently owned by company insiders.

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.