Mirae Asset Global Investments Co. Ltd. Sells 5,745 Shares of McKesson Co. (NYSE:MCK)

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of McKesson Co. (NYSE:MCK) by 16.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,181 shares of the company’s stock after selling 5,745 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in McKesson were worth $13,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of McKesson during the third quarter worth about $26,000. Legacy Financial Group LLC bought a new stake in shares of McKesson during the third quarter worth about $27,000. Live Oak Investment Partners bought a new stake in shares of McKesson during the fourth quarter worth about $30,000. Finally, BKM Wealth Management LLC bought a new stake in shares of McKesson during the fourth quarter worth about $31,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

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

Analyst Ratings Changes

Several research firms have recently weighed in on MCK. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. UBS Group upped their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Barclays began coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price on the stock. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, Argus upped their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $528.64.

McKesson Stock Performance

McKesson stock opened at $529.99 on Thursday. The stock has a market capitalization of $69.64 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.44 and a beta of 0.45. The stock’s 50 day moving average price is $522.26 and its two-hundred day moving average price is $482.59. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during 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%. McKesson’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.90 EPS. On average, equities research analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

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

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.