DnB Asset Management AS Acquires 103 Shares of McKesson Co. (NYSE:MCK)

DnB Asset Management AS raised its holdings in McKesson Co. (NYSE:MCK) by 0.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,226 shares of the company’s stock after buying an additional 103 shares during the quarter. DnB Asset Management AS’s holdings in McKesson were worth $21,215,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MCK. Millstone Evans Group LLC acquired a new position in McKesson during the 4th quarter valued at $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter valued at about $32,000. Crews Bank & Trust acquired a new stake in McKesson during the fourth quarter worth about $33,000. Atala Financial Inc bought a new position in McKesson during the fourth quarter valued at about $34,000. Finally, Graney & King LLC acquired a new position in McKesson in the 4th quarter valued at approximately $38,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by insiders.

McKesson Price Performance

NYSE MCK opened at $668.25 on Friday. The stock’s 50-day moving average is $623.58 and its 200-day moving average is $578.83. McKesson Co. has a one year low of $464.42 and a one year high of $672.00. The firm has a market cap of $83.75 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. Equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MCK shares. Evercore ISI raised 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. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $649.36.

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.