Meiji Yasuda Asset Management Co Ltd. Grows Holdings in McKesson Co. (NYSE:MCK)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in McKesson Co. (NYSE:MCK – Get Rating) by 6.6% in the third quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CX Institutional boosted its stake in shares of McKesson by 14.9% in the 3rd quarter. CX Institutional now owns 901 shares of the company’s stock valued at $306,000 after purchasing an additional 117 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of McKesson by 86.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 4,274 shares of the company’s stock valued at $1,396,000 after purchasing an additional 1,979 shares in the last quarter. Activest Wealth Management purchased a new stake in shares of McKesson in the 3rd quarter valued at $632,000. Commerce Bank boosted its stake in shares of McKesson by 11.8% in the 2nd quarter. Commerce Bank now owns 171,550 shares of the company’s stock valued at $55,961,000 after purchasing an additional 18,042 shares in the last quarter. Finally, Investment Partners LTD. purchased a new stake in shares of McKesson in the 3rd quarter valued at $296,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on MCK shares. Morgan Stanley increased their price target on shares of McKesson from $420.00 to $426.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Robert W. Baird increased their price target on shares of McKesson from $445.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Finally, UBS Group dropped their price target on shares of McKesson from $450.00 to $440.00 and set a “buy” rating for the company in a research report on Tuesday, January 31st. 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. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $416.30.

McKesson Trading Up 0.3 %

Shares of NYSE MCK opened at $336.50 on Wednesday. McKesson Co. has a 12 month low of $283.88 and a 12 month high of $401.78. The firm has a market capitalization of $46.08 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.25 and a beta of 0.59. The firm has a fifty day simple moving average of $365.26 and a two-hundred day simple moving average of $366.97.

McKesson (NYSE:MCK – Get Rating) last issued 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. McKesson had a net margin of 1.15% and a negative return on equity of 216.12%. The business had revenue of $70.49 billion during the quarter, compared to analyst estimates of $70.98 billion. During the same period in the prior year, the business earned $6.15 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts predict 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 issued a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $2.16 annualized dividend and a yield of 0.64%. McKesson’s dividend payout ratio (DPR) is presently 9.88%.

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).