Mitsubishi UFJ Asset Management Co. Ltd. Purchases 12,890 Shares of McKesson Corporation $MCK

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of McKesson Corporation (NYSE:MCK) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,319 shares of the company’s stock after buying an additional 12,890 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in McKesson were worth $175,368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MCK. Brighton Jones LLC increased its position in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Burling Wealth Partners LLC purchased a new position in McKesson in the 1st quarter worth approximately $202,000. Brown Advisory Inc. raised its position in shares of McKesson by 3.0% during the 1st quarter. Brown Advisory Inc. now owns 5,429 shares of the company’s stock valued at $3,654,000 after buying an additional 156 shares in the last quarter. Allworth Financial LP raised its position in shares of McKesson by 50.1% during the 1st quarter. Allworth Financial LP now owns 5,445 shares of the company’s stock valued at $3,748,000 after buying an additional 1,817 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of McKesson by 26.0% during the 1st quarter. Cerity Partners LLC now owns 56,606 shares of the company’s stock worth $38,095,000 after acquiring an additional 11,693 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MCK has been the topic of a number of research analyst reports. TD Cowen increased their target price on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price objective on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Citigroup raised their price objective on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, UBS Group upped their target price on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $880.15.

McKesson Trading Down 0.9%

MCK opened at $850.77 on Friday. McKesson Corporation has a 12 month low of $558.13 and a 12 month high of $867.63. The business’s 50-day moving average price is $757.54 and its 200-day moving average price is $724.25. The company has a market cap of $105.82 billion, a P/E ratio of 33.92, a P/E/G ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $7.07 EPS. Equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s payout ratio is presently 10.21%.

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.