Point72 Asia Singapore Pte. Ltd. Acquires New Holdings in McKesson Co. (NYSE:MCK)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,338 shares of the company's stock, valued at approximately $2,472,000.

Several other institutional investors have also modified their holdings of the business. Millstone Evans Group LLC bought a new stake in shares of McKesson in the fourth quarter valued at about $28,000. Synergy Asset Management LLC bought a new stake in McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust acquired a new position in McKesson during the 4th quarter worth approximately $33,000. Atala Financial Inc bought a new position in shares of McKesson during the 4th quarter worth approximately $34,000. Finally, Graney & King LLC bought a new stake in shares of McKesson in the fourth quarter worth $38,000. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

NYSE:MCK traded down $4.30 during trading hours on Tuesday, reaching $722.11. 389,627 shares of the company were exchanged, compared to its average volume of 968,861. The business has a 50 day moving average of $684.84 and a 200 day moving average of $629.90. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00. The company has a market capitalization of $90.34 billion, a P/E ratio of 33.06, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. McKesson's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm posted $6.18 EPS. As a group, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Insider Buying and Selling

In other McKesson news, 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 transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. UBS Group boosted their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $686.69.

McKesson Company 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.