Daiwa Securities Group Inc. Has $6.21 Million Position in McKesson Co. (NYSE:MCK)

Daiwa Securities Group Inc. cut its stake in McKesson Co. (NYSE:MCK) by 2.3% during the fourth quarter, according to its most recent disclosure 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Financial Group LLC acquired a new position in McKesson in the 3rd quarter worth about $27,000. OFI Invest Asset Management bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $26,000. BKM Wealth Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at approximately $31,000. Live Oak Investment Partners acquired a new position in McKesson in the fourth quarter worth approximately $30,000. Finally, Covestor Ltd raised its position in 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 in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup increased their price target on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Barclays began coverage on shares of McKesson in a research report on Wednesday, January 3rd. They set 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 research report on Thursday, January 4th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, Morgan Stanley raised their price objective on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $533.50.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred 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 owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, 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. Corporate insiders own 0.21% of the company’s stock.

McKesson Stock Up 1.2 %

Shares of MCK stock opened at $524.83 on Friday. The stock has a 50 day moving average of $524.91 and a 200-day moving average of $486.31. The firm has a market cap of $68.97 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $543.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.90 EPS. As a group, equities analysts predict that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

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

McKesson 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.