Skandinaviska Enskilda Banken AB publ Sells 6,134 Shares of McKesson Co. (NYSE:MCK)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,628 shares of the company’s stock after selling 6,134 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.08% of McKesson worth $60,858,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCK. Cibc World Market Inc. lifted its position in McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares during the last quarter. Commerce Bank increased its stake in shares of McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after buying an additional 3,020 shares during the period. West Oak Capital LLC boosted its position in McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after buying an additional 2,690 shares during the period. Brentview Investment Management LLC bought a new stake in McKesson in the 4th quarter worth $3,018,000. Finally, Ingalls & Snyder LLC increased its position in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after acquiring an additional 1,047 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of several recent analyst reports. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Trading Down 1.9 %

Shares of NYSE:MCK opened at $640.93 on Thursday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $663.61. The stock has a market capitalization of $80.32 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.29 and a beta of 0.52. The stock has a fifty day simple moving average of $605.54 and a two-hundred day simple moving average of $569.47.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,689 shares of company stock worth $11,187,351. 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.