Asset Management One Co. Ltd. Has $43.17 Million Holdings in McKesson Corporation $MCK

Asset Management One Co. Ltd. decreased its position in McKesson Corporation (NYSE:MCK) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,909 shares of the company’s stock after selling 756 shares during the quarter. Asset Management One Co. Ltd.’s holdings in McKesson were worth $43,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in shares of McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after purchasing an additional 68,294 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of McKesson in the 1st quarter valued at about $289,000. Archford Capital Strategies LLC raised its stake in shares of McKesson by 151.8% in the 2nd quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after purchasing an additional 1,372 shares during the period. LPL Financial LLC raised its stake in shares of McKesson by 12.8% in the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after purchasing an additional 17,750 shares during the period. Finally, Focus Partners Wealth raised its stake in shares of McKesson by 3.3% in the 1st quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock valued at $48,159,000 after purchasing an additional 2,283 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 1.2%

Shares of NYSE:MCK opened at $802.17 on Friday. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $807.75. The stock has a market cap of $99.77 billion, a PE ratio of 31.98, a P/E/G ratio of 1.43 and a beta of 0.52. The business has a 50 day moving average of $728.97 and a 200-day moving average of $713.82.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the prior year, the firm earned $7.88 EPS. The company’s revenue was up 23.4% on a year-over-year basis. Equities research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. This is a boost from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. McKesson’s dividend payout ratio is presently 13.08%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on MCK. UBS Group lifted their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Morgan Stanley raised their price objective on McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Evercore ISI raised their price objective on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, Wells Fargo & Company lifted their price target on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $834.54.

McKesson Company 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.