Mirae Asset Global Investments Co. Ltd. Raises Position in McKesson Co. (NYSE:MCK)

Mirae Asset Global Investments Co. Ltd. grew its position in McKesson Co. (NYSE:MCK) by 28.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 37,429 shares of the company’s stock after buying an additional 8,248 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in McKesson were worth $20,094,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Sachetta LLC purchased a new position in shares of McKesson during the fourth quarter valued at approximately $27,000. Register Financial Advisors LLC purchased a new position in shares of McKesson during the first quarter valued at approximately $29,000. BKM Wealth Management LLC purchased a new stake in McKesson during the fourth quarter valued at approximately $31,000. Richardson Financial Services Inc. purchased a new stake in McKesson during the fourth quarter valued at approximately $31,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in McKesson by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after buying an additional 50 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Robert W. Baird raised their price target on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. TD Cowen increased their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Argus raised their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Morgan Stanley raised their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $590.47.

McKesson Price Performance

NYSE:MCK traded up $4.41 during mid-day trading on Friday, reaching $587.76. The company’s stock had a trading volume of 457,302 shares, compared to its average volume of 585,916. The stock has a market cap of $76.37 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.36 and a beta of 0.45. McKesson Co. has a twelve month low of $395.30 and a twelve month high of $612.17. The company’s fifty day simple moving average is $570.84 and its two-hundred day simple moving average is $529.29.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the previous year, the business posted $7.19 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts expect that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.62 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 0.42%. McKesson’s payout ratio is currently 11.08%.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 600 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the transaction, the executive vice president now directly owns 2,022 shares in the company, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,814 shares of company stock valued at $14,511,649. 0.11% of the stock is currently owned by corporate insiders.

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.