Meiji Yasuda Asset Management Co Ltd. Sells 372 Shares of McKesson Co. (NYSE:MCK)

Meiji Yasuda Asset Management Co Ltd. decreased its position in shares of McKesson Co. (NYSE:MCK) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,174 shares of the company’s stock after selling 372 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in McKesson were worth $4,658,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the period. Geode Capital Management LLC lifted its stake in McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Boston Partners increased its stake in shares of McKesson by 24.6% in the 4th quarter. Boston Partners now owns 1,096,301 shares of the company’s stock valued at $625,501,000 after purchasing an additional 216,432 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 0.3 %

MCK stock opened at $662.71 on Wednesday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $670.79. The stock has a 50-day moving average price of $619.05 and a 200-day moving average price of $576.50. The firm has a market cap of $83.05 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

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

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Evercore ISI lifted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Finally, Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $649.36.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by company insiders.

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.