Mirae Asset Global Investments Co. Ltd. Acquires 3,542 Shares of McKesson Corporation (NYSE:MCK)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,068 shares of the company's stock after purchasing an additional 3,542 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in McKesson were worth $14,075,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its position in McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after buying an additional 2,389,992 shares during the last quarter. Norges Bank bought a new stake in shares of McKesson in the fourth quarter worth approximately $1,200,361,000. Farallon Capital Management LLC purchased a new position in shares of McKesson during the fourth quarter valued at approximately $348,044,000. Marshall Wace LLP lifted its position in McKesson by 59,720.3% during the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after purchasing an additional 358,322 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new stake in McKesson in the fourth quarter worth approximately $182,861,000. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of NYSE MCK opened at $725.99 on Monday. The stock has a market cap of $90.83 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.49. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $736.36. The firm has a fifty day moving average price of $711.19 and a 200-day moving average price of $653.10.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. McKesson's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.18 EPS. On average, research analysts expect that McKesson Corporation 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, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is currently 10.99%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCK. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday. Morgan Stanley increased their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Finally, Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $696.42.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the sale, the chief financial officer now owns 14,760 shares in the company, valued at approximately $10,587,348. The trade was a 30.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.08% of the stock is owned by company insiders.

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.

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