Mirae Asset Global Investments Co. Ltd. Acquires 2,414 Shares of McKesson Co. (NYSE:MCK)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in McKesson Co. (NYSE:MCK) by 16.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,526 shares of the company’s stock after purchasing an additional 2,414 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in McKesson were worth $10,062,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MCK. Wolff Wiese Magana LLC lifted its stake in shares of McKesson by 742.9% in the 3rd 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. bought a new position in shares of McKesson in the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC purchased a new stake in McKesson in the 4th quarter worth approximately $32,000. Finally, Crews Bank & Trust purchased a new stake in McKesson in the 4th quarter worth approximately $33,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of several analyst reports. Morgan Stanley increased their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $645.79.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Performance

MCK stock opened at $598.85 on Friday. The firm has a fifty day moving average price of $589.61 and a 200 day moving average price of $562.56. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a market cap of $76.02 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. On average, equities analysts predict that McKesson Co. will post 32.72 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio is presently 14.71%.

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.