Pensionfund Sabic Acquires 1,200 Shares of McKesson Co. (NYSE:MCK)

Pensionfund Sabic raised its holdings in McKesson Co. (NYSE:MCK) by 49.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,650 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. Pensionfund Sabic’s holdings in McKesson were worth $2,080,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MCK. Nordea Investment Management AB raised its holdings in shares of McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the last quarter. GAMMA Investing LLC increased its position in McKesson by 17.1% in the 4th quarter. GAMMA Investing LLC now owns 3,160 shares of the company’s stock valued at $1,801,000 after acquiring an additional 462 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of McKesson by 45.3% in the fourth quarter. Versant Capital Management Inc now owns 337 shares of the company’s stock worth $192,000 after acquiring an additional 105 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of McKesson by 128.0% during the third quarter. Lord Abbett & CO. LLC now owns 199,136 shares of the company’s stock worth $98,456,000 after purchasing an additional 111,808 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of McKesson during the third quarter valued at approximately $7,804,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MCK shares. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Leerink Partners decreased their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Citigroup boosted their price objective on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $650.14.

McKesson Stock Up 1.6 %

McKesson stock traded up $9.50 during mid-day trading on Monday, hitting $586.94. 117,464 shares of the company’s stock were exchanged, compared to its average volume of 713,688. The company’s 50 day simple moving average is $584.70 and its 200-day simple moving average is $561.54. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a market capitalization of $74.51 billion, a P/E ratio of 30.40, a PEG ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.23 EPS. Research analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

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.