Dai ichi Life Insurance Company Ltd Acquires 27,380 Shares of McKesson Co. (NYSE:MCK)

Dai ichi Life Insurance Company Ltd raised its position in McKesson Co. (NYSE:MCK - Free Report) by 79.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,883 shares of the company's stock after acquiring an additional 27,380 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in McKesson were worth $28,651,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Sachetta LLC acquired a new stake in shares of McKesson during the fourth quarter worth approximately $27,000. BKM Wealth Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at about $31,000. WASHINGTON TRUST Co lifted its position in shares of McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company's stock worth $53,000 after purchasing an additional 34 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in McKesson in the fourth quarter worth about $60,000. Finally, Milestone Investment Advisors LLC bought a new stake in McKesson in the third quarter valued at about $61,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,473 shares of McKesson 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 of the company's stock, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other McKesson news, Director Susan R. Salka sold 606 shares of the business's stock in a transaction on Friday, May 10th. The shares were 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 Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,080 shares of company stock worth $2,160,489. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of research analyst reports. UBS Group boosted their price target on McKesson from $620.00 to $630.00 and gave the company a "buy" rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $547.00 to $545.00 and set a "buy" rating for the company in a research note on Thursday, May 9th. Wells Fargo & Company raised their price target on shares of McKesson from $502.00 to $551.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 9th. Leerink Partnrs reiterated an "outperform" rating on shares of McKesson in a research note on Monday, February 26th. Finally, TD Cowen upped their target price on McKesson from $563.00 to $652.00 and gave the company a "buy" rating in a report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus price target of $571.47.

McKesson Price Performance

Shares of MCK traded down $11.62 during mid-day trading on Tuesday, hitting $552.38. The company's stock had a trading volume of 876,827 shares, compared to its average volume of 711,490. McKesson Co. has a fifty-two week low of $373.28 and a fifty-two week high of $566.16. The stock has a market capitalization of $71.80 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 1.33 and a beta of 0.45. The firm has a 50-day moving average price of $536.78 and a 200 day moving average price of $501.09.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts' consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same quarter last year, the company posted $7.19 EPS. McKesson's revenue was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that McKesson Co. will post 31.55 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, June 3rd. McKesson's dividend payout ratio (DPR) is currently 11.08%.

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.