Asahi Life Asset Management CO. LTD. Raises Stake in McKesson Co. (MCK)

Asahi Life Asset Management CO. LTD. grew its position in McKesson Co. (NYSE:MCK) by 1.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 15,483 shares of the company’s stock after acquiring an additional 229 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in McKesson were worth $1,812,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in McKesson by 173.2% during the third quarter. JPMorgan Chase & Co. now owns 520,286 shares of the company’s stock valued at $69,016,000 after buying an additional 329,814 shares during the period. Legal & General Group Plc grew its position in McKesson by 1.6% during the third quarter. Legal & General Group Plc now owns 1,200,128 shares of the company’s stock valued at $159,197,000 after buying an additional 18,500 shares during the period. Federated Investors Inc. PA grew its position in McKesson by 1,486.8% during the third quarter. Federated Investors Inc. PA now owns 116,934 shares of the company’s stock valued at $15,511,000 after buying an additional 109,565 shares during the period. Virtu Financial LLC grew its position in McKesson by 42.7% during the fourth quarter. Virtu Financial LLC now owns 7,524 shares of the company’s stock valued at $831,000 after buying an additional 2,253 shares during the period. Finally, Highland Capital Management LLC lifted its holdings in McKesson by 121.0% during the fourth quarter. Highland Capital Management LLC now owns 15,539 shares of the company’s stock valued at $1,717,000 after purchasing an additional 8,508 shares during the last quarter. 86.35% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Lori A. Schechter sold 2,766 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $133.59, for a total value of $369,509.94. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Several research firms have commented on MCK. Zacks Investment Research raised shares of McKesson from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Wolfe Research began coverage on shares of McKesson in a report on Tuesday, April 2nd. They set an “outperform” rating on the stock. ValuEngine raised shares of McKesson from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 8th. UBS Group began coverage on shares of McKesson in a report on Thursday, January 17th. They set a “neutral” rating and a $134.00 price objective on the stock. Finally, Barclays reaffirmed a “hold” rating and set a $130.00 price objective on shares of McKesson in a report on Friday, February 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $134.90.

NYSE MCK opened at $126.31 on Thursday. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 1.27 and a beta of 1.23. McKesson Co. has a 52 week low of $106.11 and a 52 week high of $151.86. The company has a current ratio of 1.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.88.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, May 8th. The company reported $3.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.66 by $0.03. McKesson had a net margin of 0.02% and a return on equity of 29.02%. The business had revenue of $52.43 billion for the quarter, compared to the consensus estimate of $53.14 billion. During the same period in the prior year, the firm earned $3.49 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. On average, analysts anticipate that McKesson Co. will post 14.15 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, May 31st. McKesson’s payout ratio is 11.50%.

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About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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