SBI Securities Co. Ltd. Acquires New Position in McKesson Co. (NYSE:MCK)

SBI Securities Co. Ltd. acquired a new stake in McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 547 shares of the company’s stock, valued at approximately $312,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCK. FMR LLC raised its stake in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the period. The Manufacturers Life Insurance Company grew its holdings in McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares in the last quarter. Janus Henderson Group PLC grew its holdings in McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after buying an additional 321,119 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in McKesson during the 4th quarter valued at about $178,397,000. Finally, Nordea Investment Management AB grew its holdings in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

NYSE:MCK opened at $640.39 on Thursday. The business has a 50 day moving average of $598.01 and a 200 day moving average of $566.15. The company has a market capitalization of $80.26 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $653.92.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s payout ratio is currently 13.00%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCK. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given 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 $645.79.

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.