MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Position in McKesson Co. (NYSE:MCK)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 21.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,959 shares of the company's stock after purchasing an additional 4,299 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in McKesson were worth $13,654,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cibc World Market Inc. lifted its stake in McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after purchasing an additional 1,207 shares during the last quarter. Brentview Investment Management LLC bought a new stake in McKesson during the fourth quarter worth about $3,018,000. Ingalls & Snyder LLC lifted its stake in McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in McKesson by 85.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock worth $745,000 after purchasing an additional 580 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in McKesson by 6.4% during the fourth quarter. Blue Trust Inc. now owns 7,830 shares of the company's stock worth $4,462,000 after purchasing an additional 468 shares during the last quarter. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

MCK traded up $0.25 during midday trading on Wednesday, reaching $719.44. 102,652 shares of the company's stock traded hands, compared to its average volume of 914,226. The firm has a fifty day moving average of $686.37 and a two-hundred day moving average of $630.52. The stock has a market capitalization of $90.01 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00.

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

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MCK. Morgan Stanley lifted their price target on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company boosted their target price on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Finally, Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company's stock.

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.