McKesson Co. (NYSE:MCK) Shares Purchased by J.Safra Asset Management Corp

J.Safra Asset Management Corp raised its stake in McKesson Co. (NYSE:MCK – Get Rating) by 279.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273 shares of the company’s stock after purchasing an additional 201 shares during the quarter. J.Safra Asset Management Corp’s holdings in McKesson were worth $102,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MCK. WCM Investment Management LLC increased its position in shares of McKesson by 6.1% during the fourth quarter. WCM Investment Management LLC now owns 938,931 shares of the company’s stock worth $352,212,000 after acquiring an additional 54,048 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in McKesson by 53.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock valued at $280,399,000 after buying an additional 320,588 shares during the last quarter. Fred Alger Management LLC increased its holdings in McKesson by 11.6% in the third quarter. Fred Alger Management LLC now owns 823,327 shares of the company’s stock valued at $279,824,000 after buying an additional 85,272 shares during the last quarter. Nordea Investment Management AB increased its holdings in McKesson by 4.0% in the fourth quarter. Nordea Investment Management AB now owns 666,763 shares of the company’s stock valued at $249,276,000 after buying an additional 25,880 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of McKesson by 7.2% during the third quarter. UBS Asset Management Americas Inc. now owns 662,829 shares of the company’s stock valued at $225,276,000 after purchasing an additional 44,308 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Credit Suisse Group upped their target price on McKesson from $430.00 to $450.00 in a report on Friday, May 12th. Morgan Stanley increased their price objective on McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. UBS Group decreased their price objective on McKesson from $450.00 to $440.00 and set a “buy” rating for the company in a report on Tuesday, January 31st. Robert W. Baird increased their price objective on McKesson from $450.00 to $475.00 in a report on Tuesday, May 9th. Finally, 58.com reissued a “maintains” rating on shares of McKesson in a report on Tuesday, May 9th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $430.17.

McKesson Stock Performance

Shares of NYSE:MCK traded down $4.08 during midday trading on Friday, hitting $391.31. The company’s stock had a trading volume of 164,721 shares, compared to its average volume of 976,291. The stock’s 50 day simple moving average is $367.94 and its 200 day simple moving average is $369.09. McKesson Co. has a fifty-two week low of $298.69 and a fifty-two week high of $401.78. The stock has a market capitalization of $53.06 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.38 and a beta of 0.58.

McKesson (NYSE:MCK – Get Rating) last released its earnings results on Monday, May 8th. The company reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.16 by $0.03. McKesson had a net margin of 1.29% and a negative return on equity of 234.22%. The business had revenue of $68.91 billion during the quarter, compared to analysts’ expectations of $67.94 billion. During the same quarter last year, the company earned $5.83 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, analysts anticipate that McKesson Co. will post 26.56 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, May 31st. McKesson’s dividend payout ratio is 8.60%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 18,542 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $386.04, for a total transaction of $7,157,953.68. Following the completion of the transaction, the chief executive officer now owns 75,737 shares in the company, valued at $29,237,511.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

McKesson Company Profile

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).