Handelsinvest Investeringsforvaltning Decreases Stake in McKesson Co. (NYSE:MCK)

Handelsinvest Investeringsforvaltning cut its position in McKesson Co. (NYSE:MCK) by 15.3% during the first quarter, HoldingsChannel reports. The firm owned 2,508 shares of the company’s stock after selling 453 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in McKesson were worth $1,346,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Douglass Winthrop Advisors LLC raised its stake in McKesson by 1.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after acquiring an additional 21 shares in the last quarter. Addison Advisors LLC increased its position in McKesson by 7.9% during the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after buying an additional 22 shares during the period. Evergreen Wealth Solutions LLC boosted its holdings in shares of McKesson by 1.2% in the fourth quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock valued at $894,000 after acquiring an additional 22 shares during the period. RMR Wealth Builders grew its position in shares of McKesson by 5.2% during the first quarter. RMR Wealth Builders now owns 464 shares of the company’s stock worth $249,000 after acquiring an additional 23 shares during the last quarter. Finally, Keystone Financial Services raised its position in McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after purchasing an additional 24 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other McKesson news, CFO Britt J. Vitalone sold 894 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the completion of the transaction, the chief financial officer now directly owns 16,455 shares in the company, valued at $9,172,017. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Insiders have sold a total of 25,814 shares of company stock valued at $14,511,649 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.8 %

Shares of NYSE MCK opened at $580.21 on Wednesday. The stock has a 50 day simple moving average of $567.05 and a 200-day simple moving average of $526.51. The company has a market cap of $75.39 billion, a PE ratio of 26.13, a P/E/G ratio of 1.37 and a beta of 0.45. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the business posted $7.19 earnings per share. Sell-side analysts forecast that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MCK shares. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Bank of America raised their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. UBS Group upped their target price on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Robert W. Baird boosted their price objective on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $590.47.

About McKesson

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.