DnB Asset Management AS Has $21.22 Million Position in McKesson Co. (NYSE:MCK)

DnB Asset Management AS increased its position in shares of McKesson Co. (NYSE:MCK) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,226 shares of the company’s stock after acquiring an additional 103 shares during the period. DnB Asset Management AS’s holdings in McKesson were worth $21,215,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Finally, Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.

McKesson Price Performance

Shares of McKesson stock opened at $668.25 on Friday. The business has a 50-day simple moving average of $623.58 and a 200 day simple moving average of $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 capitalization of $83.75 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued 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%. On average, sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s dividend payout ratio is presently 13.00%.

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.