Asset Management One Co. Ltd. Purchases 5,013 Shares of McKesson Co. (NYSE:MCK)

Asset Management One Co. Ltd. grew its position in shares of McKesson Co. (NYSE:MCK) by 8.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 67,701 shares of the company’s stock after buying an additional 5,013 shares during the quarter. Asset Management One Co. Ltd.’s holdings in McKesson were worth $33,473,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Distillate Capital Partners LLC raised its stake in McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp raised its stake in McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after buying an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC raised its stake in McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after buying an additional 133 shares in the last quarter. Councilmark Asset Management LLC bought a new position in McKesson in the first quarter worth about $5,160,000. Finally, Vaughan David Investments LLC IL bought a new position in McKesson in the second quarter worth about $238,000. 85.07% of the stock is owned by institutional investors.

McKesson Trading Down 0.1 %

Shares of MCK stock opened at $525.94 on Tuesday. The firm’s 50 day moving average is $511.62 and its 200 day moving average is $550.62. The stock has a market capitalization of $68.20 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping the consensus estimate of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $7.27 EPS. As a group, equities analysts predict that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.54%. McKesson’s payout ratio is 12.70%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Leerink Partners decreased their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Wells Fargo & Company decreased their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $531.00 target price (down previously from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Finally, Mizuho raised their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $610.86.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

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.