McKesson Co. (NYSE:MCK) Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in McKesson Co. (NYSE:MCK) by 21.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,959 shares of the company’s stock after buying an additional 4,299 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in McKesson were worth $13,654,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its holdings in McKesson by 8.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company’s stock worth $1,622,754,000 after purchasing an additional 222,496 shares in the last quarter. Geode Capital Management LLC raised its position in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock valued at $1,513,195,000 after buying an additional 10,015 shares during the last quarter. Franklin Resources Inc. raised its position in McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock worth $1,493,704,000 after purchasing an additional 114,396 shares in the last quarter. Norges Bank acquired a new position in McKesson in the fourth quarter worth about $1,200,361,000. Finally, Northern Trust Corp increased its holdings in shares of McKesson by 9.0% during the fourth quarter. Northern Trust Corp now owns 1,532,203 shares of the company’s stock worth $873,218,000 after buying an additional 126,940 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley lifted their price target on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Evercore ISI lifted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. UBS Group lifted their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Finally, Mizuho lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $686.69.

McKesson Trading Up 3.4%

Shares of MCK stock opened at $705.78 on Friday. The stock has a market cap of $88.45 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company’s fifty day moving average price is $681.75 and its 200-day moving average price is $625.19. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.48.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same quarter in the prior year, the business earned $6.18 EPS. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson’s dividend payout ratio is presently 10.99%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

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.