Handelsinvest Investeringsforvaltning Sells 453 Shares of McKesson Co. (NYSE:MCK)

Handelsinvest Investeringsforvaltning reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 15.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Morgan Stanley boosted its holdings in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after acquiring an additional 294,832 shares during the period. Norges Bank bought a new position in shares of McKesson in the fourth quarter worth $1,024,140,000. Putnam Investments LLC raised its position in shares of McKesson by 3.2% in the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after buying an additional 62,242 shares in the last quarter. WCM Investment Management LLC boosted its stake in McKesson by 0.4% during the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock valued at $500,134,000 after buying an additional 4,636 shares during the period. Finally, Wellington Management Group LLP increased its stake in McKesson by 0.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,030,180 shares of the company’s stock worth $447,974,000 after acquiring an additional 2,732 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Bank of America upped their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Wells Fargo & Company boosted their price target on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 9th. Citigroup raised their price objective on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Morgan Stanley boosted their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, TD Cowen raised their price target on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $590.47.

Insider Transactions at McKesson

In related news, Director Maria Martinez sold 483 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Maria Martinez sold 483 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The disclosure for this sale can be found here. Insiders have sold 25,814 shares of company stock valued at $14,511,649 in the last ninety days. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.8 %

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

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

McKesson Announces Dividend

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

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.