McKesson Corporation (MCK) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in McKesson Corporation (NYSE:MCK) by 8.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,544 shares of the company’s stock after buying an additional 3,801 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in McKesson Corporation were worth $8,317,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of McKesson Corporation during the first quarter worth approximately $191,000. Parnassus Investments CA raised its stake in shares of McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock worth $620,727,000 after buying an additional 3,236,594 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of McKesson Corporation by 1,015.0% in the first quarter. Pzena Investment Management LLC now owns 2,077,104 shares of the company’s stock worth $307,951,000 after buying an additional 1,890,815 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of McKesson Corporation by 288.6% in the first quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock worth $259,883,000 after buying an additional 1,301,803 shares during the last quarter. Institutional investors and hedge funds own 85.26% of the company’s stock.
McKesson Corporation (MCK) opened at 147.21 on Wednesday. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $186.28. The stock has a 50 day moving average of $157.94 and a 200-day moving average of $152.42. The company has a market cap of $30.95 billion, a P/E ratio of 6.68 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.81 by $0.35. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The business had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. During the same period last year, the firm posted $3.50 EPS. McKesson Corporation’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that McKesson Corporation will post $12.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.34 dividend. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.92%. McKesson Corporation’s payout ratio is 5.00%.
A number of equities research analysts recently commented on MCK shares. Vetr upgraded shares of McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price objective on the stock in a report on Monday, June 12th. Leerink Swann set a $140.00 price objective on shares of McKesson Corporation and gave the stock a “hold” rating in a report on Friday, May 19th. J P Morgan Chase & Co upgraded shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price objective on the stock in a report on Tuesday, May 23rd. Zacks Investment Research lowered shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC started coverage on shares of McKesson Corporation in a report on Wednesday, May 17th. They set a “hold” rating and a $153.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $171.91.
In other McKesson Corporation news, Director M Christine Jacobs sold 1,083 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $145.43, for a total value of $157,500.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John H. Hammergren sold 38,619 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $163.76, for a total value of $6,324,247.44. Following the completion of the transaction, the chairman now directly owns 19,309 shares of the company’s stock, valued at approximately $3,162,041.84. The disclosure for this sale can be found here. In the last three months, insiders sold 40,785 shares of company stock valued at $6,657,790. 1.20% of the stock is owned by insiders.
About McKesson Corporation
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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