Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in McKesson Co. (NYSE:MCK - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,131 shares of the company's stock after buying an additional 5,958 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of McKesson worth $63,948,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company's stock valued at $380,228,000 after buying an additional 749,504 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company's stock worth $2,238,953,000 after purchasing an additional 708,438 shares in the last quarter. Morgan Stanley grew its stake in shares of McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company's stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in McKesson by 92.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company's stock worth $246,969,000 after purchasing an additional 272,266 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in McKesson by 5,683.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company's stock worth $104,178,000 after buying an additional 221,125 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.
McKesson Stock Performance
NYSE MCK traded down $3.03 on Tuesday, reaching $551.58. The company had a trading volume of 550,696 shares, compared to its average volume of 713,992. The company's fifty day moving average is $533.33 and its 200-day moving average is $496.67. The firm has a market capitalization of $71.70 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.32 and a beta of 0.45. McKesson Co. has a 1-year low of $373.28 and a 1-year high of $566.01.
McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $7.19 EPS. On average, research analysts forecast that McKesson Co. will post 31.55 earnings per share for the current year.
McKesson Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.45%. McKesson's payout ratio is currently 11.08%.
Analyst Upgrades and Downgrades
Several research firms have recently commented on MCK. Citigroup lifted their target price on McKesson from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday, April 30th. Robert W. Baird boosted their price objective on McKesson from $603.00 to $671.00 and gave the stock an "outperform" rating in a report on Wednesday, May 8th. StockNews.com upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 4th. Leerink Partnrs reissued an "outperform" rating on shares of McKesson in a research note on Monday, February 26th. Finally, Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an "overweight" rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $571.47.
Check Out Our Latest Report on McKesson
Insiders Place Their Bets
In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company's stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Susan R. Salka sold 606 shares of the business's stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders have sold 4,080 shares of company stock valued at $2,160,489 in the last three months. 0.21% of the stock is currently owned by corporate insiders.
McKesson Profile
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Free Report)
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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