3,400 Shares in McKesson Co. (NYSE:MCK) Bought by AIA Group Ltd

AIA Group Ltd bought a new position in McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,400 shares of the company’s stock, valued at approximately $1,574,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in shares of McKesson by 16.0% in the 3rd 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 during the last quarter. Morgan Stanley increased its position in shares of McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Norges Bank bought a new stake in shares of McKesson in the 4th quarter worth about $633,960,000. Northern Trust Corp increased its position in shares of McKesson by 3.3% in the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after purchasing an additional 50,265 shares during the last quarter. Finally, Boston Partners increased its position in shares of McKesson by 12.5% in the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock worth $522,040,000 after purchasing an additional 133,351 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.4 %

NYSE MCK opened at $518.81 on Friday. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00. The company has a fifty day simple moving average of $524.44 and a 200 day simple moving average of $485.71. The company has a market cap of $68.18 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.90 EPS. Equities research analysts forecast that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of several research analyst reports. UBS Group boosted their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Argus boosted their price objective on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Morgan Stanley boosted their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Mizuho boosted their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $533.50.

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.