Daiwa Securities Group Inc. Grows Holdings in McKesson Co. (NYSE:MCK)

Daiwa Securities Group Inc. lifted its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 59.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,884 shares of the company's stock after purchasing an additional 10,037 shares during the quarter. Daiwa Securities Group Inc.'s holdings in McKesson were worth $15,322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Old North State Trust LLC grew its stake in McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after acquiring an additional 18 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management grew its position in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after acquiring an additional 18 shares during the period. Black Diamond Financial LLC grew its position in McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock valued at $754,000 after acquiring an additional 19 shares during the period. Finally, Calamos Wealth Management LLC grew its holdings in shares of McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock worth $2,665,000 after purchasing an additional 20 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

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McKesson Stock Down 1.9 %

Shares of NYSE:MCK traded down $12.23 during trading on Wednesday, hitting $640.96. The stock had a trading volume of 336,421 shares, compared to its average volume of 811,125. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $663.61. The company has a market capitalization of $80.33 billion, a PE ratio of 29.34, a PEG ratio of 1.29 and a beta of 0.52. The firm's fifty day moving average is $604.12 and its 200 day moving average is $568.96.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,689 shares of company stock worth $11,187,351. Company insiders own 0.11% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Evercore ISI increased their price objective on 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 target on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average price target of $645.79.

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.