Sompo Asset Management Co. Ltd. Acquires 40 Shares of McKesson Co. (NYSE:MCK)

Sompo Asset Management Co. Ltd. raised its holdings in McKesson Co. (NYSE:MCK) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 660 shares of the company’s stock after buying an additional 40 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in McKesson were worth $385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LRI Investments LLC acquired a new stake in shares of McKesson in the 1st quarter valued at $28,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson in the 1st quarter valued at $29,000. Richardson Financial Services Inc. acquired a new stake in shares of McKesson in the 4th quarter valued at $31,000. Carolinas Wealth Consulting LLC boosted its stake in shares of McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at $40,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 11,259 shares of company stock valued at $6,635,492 in the last ninety days. 0.11% of the stock is owned by insiders.

McKesson Price Performance

Shares of MCK stock opened at $508.00 on Friday. The stock has a market cap of $66.01 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The stock has a 50-day moving average of $560.25 and a 200-day moving average of $557.01. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $7.27 EPS. As a group, research analysts anticipate that McKesson Co. will post 32.11 earnings per share for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. McKesson’s dividend payout ratio is 12.69%.

Analyst Upgrades and Downgrades

MCK has been the topic of several research reports. Citigroup reduced their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Robert W. Baird reduced their price target on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Argus upped their price target on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

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.