Meiji Yasuda Asset Management Co Ltd. Acquires 212 Shares of McKesson Co. (NYSE:MCK)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of McKesson Co. (NYSE:MCK – Get Rating) by 6.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,433 shares of the company’s stock after acquiring an additional 212 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in McKesson were worth $1,167,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MCK. Covestor Ltd raised its stake in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. Worth Asset Management LLC bought a new position in McKesson during the first quarter worth $41,000. Fairfield Bush & CO. bought a new position in McKesson during the first quarter worth $46,000. Orion Capital Management LLC bought a new position in McKesson during the third quarter worth $49,000. Finally, Endurance Wealth Management Inc. bought a new position in McKesson during the third quarter worth $55,000. Institutional investors own 85.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nancy Avila sold 161 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $370.02, for a total value of $59,573.22. Following the sale, the executive vice president now owns 4,631 shares of the company’s stock, valued at $1,713,562.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Brian S. Tyler sold 7,416 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total value of $2,818,080.00. Following the sale, the chief executive officer now owns 75,737 shares of the company’s stock, valued at $28,780,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nancy Avila sold 161 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $370.02, for a total transaction of $59,573.22. Following the completion of the sale, the executive vice president now directly owns 4,631 shares in the company, valued at approximately $1,713,562.62. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $336.50 on Wednesday. The firm has a market cap of $46.08 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.25 and a beta of 0.59. McKesson Co. has a 52 week low of $283.88 and a 52 week high of $401.78. The firm’s 50-day simple moving average is $365.26 and its two-hundred day simple moving average is $366.97.

McKesson (NYSE:MCK – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The company reported $6.90 EPS for the quarter, topping the consensus estimate of $6.36 by $0.54. The business had revenue of $70.49 billion for the quarter, compared to analyst estimates of $70.98 billion. McKesson had a net margin of 1.15% and a negative return on equity of 216.12%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.15 earnings per share. Analysts forecast that McKesson Co. will post 25.93 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, February 28th. McKesson’s dividend payout ratio is 9.88%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MCK shares. Robert W. Baird lifted their target price on shares of McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. UBS Group lowered their target price on shares of McKesson from $450.00 to $440.00 and set a “buy” rating for the company in a research note on Tuesday, January 31st. Finally, Morgan Stanley lifted their target price on shares of McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $416.30.

About McKesson

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).