Nomura Asset Management Co. Ltd. Raises Stake in McKesson Co. (NYSE:MCK)

Nomura Asset Management Co. Ltd. increased its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 17.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 198,628 shares of the company's stock after acquiring an additional 29,072 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.16% of McKesson worth $98,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock valued at $2,444,175,000 after buying an additional 138,685 shares during the period. FMR LLC boosted its holdings in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company's stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. Legal & General Group Plc increased its position in McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock valued at $757,862,000 after purchasing an additional 36,583 shares during the period. The Manufacturers Life Insurance Company raised its holdings in McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock worth $588,048,000 after purchasing an additional 425,875 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company's stock worth $500,879,000 after purchasing an additional 62,875 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Performance

NYSE MCK traded down $12.58 during trading hours on Monday, hitting $590.95. The company had a trading volume of 451,086 shares, compared to its average volume of 815,403. The firm has a 50 day simple moving average of $554.83 and a 200 day simple moving average of $561.91. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The firm has a market capitalization of $75.02 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 1.30 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 earnings per share. McKesson's revenue was up 21.3% on a year-over-year basis. On average, research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup lifted their target price on shares of McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and upped their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective 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. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and an average price target of $635.86.

About McKesson

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.