Mitsubishi UFJ Asset Management Co. Ltd. Acquires 9,168 Shares of McKesson Corporation $MCK

Key Points

• Mitsubishi UFJ Asset Management raised its McKesson stake by 3.6% in Q4, purchasing 9,168 shares to hold 260,923 shares (about 0.21% of the company) valued at roughly $214.85 million.
• McKesson reported an earnings beat with $9.34 EPS vs. $9.19 expected and $106.16 billion in revenue (up 11.4% YoY), and announced a $0.82 quarterly dividend ($3.28 annualized, 0.4% yield). Analysts remain bullish overall, with a consensus Moderate Buy and an average price target of $972.27, several firms setting targets around $1,000+.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 260,923 shares of the company's stock after purchasing an additional 9,168 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of McKesson worth $214,854,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in MCK. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in McKesson by 27.3% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,097 shares of the company's stock valued at $8,283,000 after acquiring an additional 2,164 shares during the period. SBI Securities Co. Ltd. lifted its position in McKesson by 139.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 460 shares of the company's stock valued at $377,000 after purchasing an additional 268 shares during the last quarter. Garner Asset Management Corp purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $41,000. MMA Asset Management LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $486,000. Finally, Nicholas Hoffman & Company LLC. increased its stake in shares of McKesson by 4.0% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 1,600 shares of the company's stock worth $1,312,000 after buying an additional 62 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Maria Martinez sold 349 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total value of $328,014.63. Following the sale, the director directly owned 301 shares of the company's stock, valued at approximately $282,900.87. This represents a 53.69% 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, EVP Leann B. Smith sold 190 shares of McKesson stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $945.00, for a total value of $179,550.00. Following the completion of the transaction, the executive vice president directly owned 2,989 shares of the company's stock, valued at approximately $2,824,605. This represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,592 shares of company stock valued at $3,518,555. 0.08% of the stock is owned by insiders.

McKesson Stock Performance

Shares of NYSE MCK opened at $742.16 on Thursday. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The company has a 50 day simple moving average of $887.83 and a two-hundred day simple moving average of $860.18. The company has a market capitalization of $90.91 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 1.16 and a beta of 0.35.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, topping analysts' consensus estimates of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The firm had revenue of $106.16 billion for the quarter, compared to analysts' expectations of $105.98 billion. During the same period in the previous year, the firm posted $8.03 EPS. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts forecast that McKesson Corporation will post 39.02 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson's payout ratio is 9.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MCK shares. Barclays increased their price target on shares of McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Weiss Ratings restated a "buy (b+)" rating on shares of McKesson in a research report on Monday. UBS Group lowered their price objective on shares of McKesson from $1,012.00 to $1,000.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Bank of America cut their target price on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Finally, Leerink Partners restated an "outperform" rating and set a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $972.27.

About McKesson

McKesson Corporation NYSE: MCK is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company's core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.

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