Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 1,100 Shares of McKesson Corporation $MCK

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in McKesson Corporation (NYSE:MCK) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,253 shares of the company’s stock after purchasing an additional 1,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in McKesson were worth $46,548,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Solstein Capital LLC boosted its position in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after buying an additional 24 shares during the last quarter. State of Wyoming acquired a new position in shares of McKesson during the second quarter valued at $29,000. GFG Capital LLC bought a new position in McKesson in the second quarter valued at about $30,000. Delos Wealth Advisors LLC bought a new position in McKesson in the second quarter valued at about $35,000. Finally, Abound Wealth Management increased its position in McKesson by 104.3% in the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.08% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $843.30 on Friday. The company has a 50 day moving average price of $833.68 and a two-hundred day moving average price of $765.42. The company has a market capitalization of $104.09 billion, a PE ratio of 26.25, a PEG ratio of 1.37 and a beta of 0.41. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same quarter in the previous year, the business earned $7.07 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s dividend payout ratio is 10.21%.

Analyst Ratings Changes

A number of research analysts have issued reports on MCK shares. Cowen restated a “buy” rating on shares of McKesson in a research report on Monday, December 22nd. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company raised their price objective on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Finally, Mizuho increased their price target on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $895.79.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.