Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 320,707 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in McKesson were worth $182,774,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Financial Synergies Wealth Advisors Inc. purchased a new stake in McKesson during the fourth quarter valued at $205,000. Consolidated Portfolio Review Corp raised its stake in McKesson by 36.1% during the fourth quarter. Consolidated Portfolio Review Corp now owns 678 shares of the company’s stock valued at $386,000 after purchasing an additional 180 shares in the last quarter. Measured Wealth Private Client Group LLC increased its position in McKesson by 19.2% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 664 shares of the company’s stock valued at $378,000 after acquiring an additional 107 shares during the last quarter. GHP Investment Advisors Inc. increased its position in McKesson by 0.9% during the fourth quarter. GHP Investment Advisors Inc. now owns 17,457 shares of the company’s stock valued at $9,949,000 after acquiring an additional 150 shares during the last quarter. Finally, Silver Oak Securities Incorporated increased its position in McKesson by 124.2% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,083 shares of the company’s stock valued at $618,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of analyst reports. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $645.79.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $595.77 on Friday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The company has a 50-day moving average of $589.05 and a 200 day moving average of $562.81. The firm has a market cap of $75.63 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. Sell-side analysts anticipate that McKesson Co. will post 32.72 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.