Nomura Asset Management Co. Ltd. raised its stake in McKesson Co. (NYSE:MCK – Free Report) by 17.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,628 shares of the company’s stock after acquiring an additional 29,072 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.16% of McKesson worth $98,206,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Wolff Wiese Magana LLC raised its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new stake in shares of McKesson during the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson during the 2nd quarter worth approximately $52,000. 85.07% of the stock is currently owned by institutional investors.
McKesson Price Performance
MCK opened at $603.53 on Monday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The company’s 50 day moving average price is $554.83 and its two-hundred day moving average price is $561.91. The firm has a market capitalization of $76.61 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.30 and a beta of 0.49.
McKesson Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s payout ratio is 14.71%.
Wall Street Analyst Weigh In
MCK has been the subject of several research analyst reports. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $635.86.
View Our Latest Stock Report on McKesson
About McKesson
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.
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