Sumitomo Mitsui Trust Group Inc. Acquires 1,725 Shares of McKesson Co. (NYSE:MCK)

Sumitomo Mitsui Trust Group Inc. increased its holdings in McKesson Co. (NYSE:MCK - Free Report) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,207 shares of the company's stock after buying an additional 1,725 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of McKesson worth $158,317,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Distillate Capital Partners LLC lifted its holdings in shares of McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock valued at $20,874,000 after buying an additional 35,712 shares during the period. Chase Investment Counsel Corp boosted its position in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock valued at $5,247,000 after purchasing an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC grew its stake in shares of McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock worth $948,000 after purchasing an additional 133 shares during the last quarter. Councilmark Asset Management LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new stake in McKesson during the second quarter valued at approximately $238,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MCK. Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and increased their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. Leerink Partners reduced their price objective on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Finally, StockNews.com raised McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson has an average rating of "Moderate Buy" and an average price target of $631.57.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company's stock, valued at approximately $44,094,604.60. This represents 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 corporate insiders.

McKesson Stock Up 1.1 %

MCK traded up $6.95 on Wednesday, hitting $624.61. The company's stock had a trading volume of 636,008 shares, compared to its average volume of 824,294. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company's 50 day simple moving average is $515.00 and its 200-day simple moving average is $552.91. The firm has a market cap of $79.29 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 earnings per share. The firm's revenue was up 21.3% on a year-over-year basis. Equities analysts predict that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. McKesson's dividend payout ratio (DPR) is 14.71%.

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.