Asset Management One Co. Ltd. Sells 5,275 Shares of McKesson Co. (NYSE:MCK)

Asset Management One Co. Ltd. cut its stake in McKesson Co. (NYSE:MCK - Free Report) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,426 shares of the company's stock after selling 5,275 shares during the period. Asset Management One Co. Ltd.'s holdings in McKesson were worth $35,997,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MCK. Wolff Wiese Magana LLC lifted its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $32,000. Finally, Crews Bank & Trust bought a new position in McKesson in the fourth quarter valued at approximately $33,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of McKesson stock traded up $1.21 on Tuesday, reaching $594.90. 322,559 shares of the company's stock were exchanged, compared to its average volume of 737,134. The company has a market capitalization of $75.52 billion, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The firm's 50-day moving average is $587.30 and its two-hundred day moving average is $562.13. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data 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%. On average, analysts expect that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

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 issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson's dividend payout ratio is currently 13.00%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company's stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were 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 directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,307 shares of company stock worth $6,177,790 in the last ninety days. Corporate insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent analyst reports. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Finally, 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $645.79.

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.