Sumitomo Mitsui Trust Group Inc. Has $158.32 Million Position in McKesson Co. (NYSE:MCK)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of McKesson Co. (NYSE:MCK) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 320,207 shares of the company’s stock after purchasing an additional 1,725 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of McKesson worth $158,317,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. RFP Financial Group LLC raised its holdings in McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after acquiring an additional 17 shares during the period. Modera Wealth Management LLC increased its stake in shares of McKesson by 2.2% in the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares during the period. Larson Financial Group LLC lifted its position in shares of McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares during the last quarter. First Western Trust Bank boosted its stake in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after purchasing an additional 18 shares during the period. Finally, Lester Murray Antman dba SimplyRich grew its holdings in McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock valued at $2,935,000 after buying an additional 19 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on MCK shares. Citigroup cut their price target on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Leerink Partners dropped their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Barclays upped their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Evercore ISI lifted their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $625.64.

McKesson Price Performance

Shares of MCK stock opened at $617.68 on Wednesday. The stock’s fifty day simple moving average is $514.12 and its 200 day simple moving average is $552.38. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a market cap of $80.10 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 1.39 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 EPS. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, research analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

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.