Daiwa Securities Group Inc. Reduces Stock Holdings in McKesson Co. (NYSE:MCK)

Daiwa Securities Group Inc. lessened its stake in shares of McKesson Co. (NYSE:MCK) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,401 shares of the company’s stock after selling 309 shares during the quarter. Daiwa Securities Group Inc.’s holdings in McKesson were worth $6,205,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Covestor Ltd lifted its stake in shares of McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. OFI Invest Asset Management acquired a new stake in shares of McKesson in the 3rd quarter worth approximately $26,000. Legacy Financial Group LLC acquired a new position in McKesson during the third quarter worth $27,000. Live Oak Investment Partners acquired a new stake in McKesson in the fourth quarter valued at $30,000. Finally, BKM Wealth Management LLC purchased a new position in shares of McKesson in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MCK shares. SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective on the stock. Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Argus upped their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Barclays initiated coverage on McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. Finally, Citigroup upped their price objective on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

McKesson Price Performance

MCK opened at $524.83 on Friday. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $543.00. The business has a 50-day moving average of $524.91 and a two-hundred day moving average of $486.31. The stock has a market capitalization of $68.97 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $6.90 EPS. Equities research analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is 11.24%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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.