Norinchukin Bank The Increases Stock Holdings in McKesson Co. (NYSE:MCK)

Norinchukin Bank The increased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,853 shares of the company's stock after acquiring an additional 444 shares during the period. Norinchukin Bank The's holdings in McKesson were worth $3,336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Millstone Evans Group LLC bought a new position in McKesson during the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter worth $32,000. Crews Bank & Trust bought a new position in shares of McKesson during the fourth quarter valued at $33,000. Atala Financial Inc purchased a new position in shares of McKesson in the 4th quarter worth about $34,000. Finally, Graney & King LLC bought a new position in McKesson in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

Shares of McKesson stock traded down $4.01 during trading hours on Thursday, hitting $688.26. The company's stock had a trading volume of 862,210 shares, compared to its average volume of 890,505. The business has a 50 day moving average price of $657.47 and a two-hundred day moving average price of $603.65. The company has a market cap of $86.26 billion, a PE ratio of 31.51, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last announced 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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. McKesson's payout ratio is 13.00%.

Analysts Set New Price Targets

Several brokerages have issued reports on MCK. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Bank of America lifted their price objective on McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company boosted their price target on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and an average target price of $668.50.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,110 shares of company stock worth $10,855,706. Corporate insiders own 0.11% of the company's stock.

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.