Resona Asset Management Co. Ltd. Takes Position in McKesson Co. (NYSE:MCK)

Resona Asset Management Co. Ltd. bought a new position in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,398 shares of the company’s stock, valued at approximately $29,898,000.

Several other institutional investors also recently bought and sold shares of the stock. Islay Capital Management LLC grew its holdings in McKesson by 4,992.0% during the 4th quarter. Islay Capital Management LLC now owns 1,273 shares of the company’s stock valued at $725,000 after buying an additional 1,248 shares in the last quarter. Lynwood Price Capital Management LP bought a new position in shares of McKesson during the 4th quarter valued at approximately $7,181,000. First Western Trust Bank grew its holdings in shares of McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock valued at $531,000 after purchasing an additional 18 shares in the last quarter. Smith Moore & CO. bought a new stake in McKesson in the fourth quarter worth $209,000. Finally, Thoroughbred Financial Services LLC raised its stake in McKesson by 1.0% during the fourth quarter. Thoroughbred Financial Services LLC now owns 4,273 shares of the company’s stock valued at $2,435,000 after purchasing an additional 44 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 in the last three months. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $682.41 on Friday. The company’s 50-day simple moving average is $633.37 and its two-hundred day simple moving average is $585.40. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The company has a market capitalization of $85.52 billion, a P/E ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Morgan Stanley raised their price target on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Evercore ISI lifted their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $661.00.

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.