Mufg Securities Americas Inc. Invests $1.07 Million in McKesson Co. (NYSE:MCK)

Mufg Securities Americas Inc. acquired a new stake in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,874 shares of the company’s stock, valued at approximately $1,068,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cibc World Market Inc. grew its stake in McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after buying an additional 1,207 shares in the last quarter. Brentview Investment Management LLC bought a new position in shares of McKesson in the fourth quarter worth $3,018,000. Ingalls & Snyder LLC grew its position in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of McKesson by 85.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock valued at $745,000 after purchasing an additional 580 shares during the period. Finally, Brookstone Capital Management boosted its stake in McKesson by 42.8% in the 4th quarter. Brookstone Capital Management now owns 10,473 shares of the company’s stock worth $5,969,000 after purchasing an additional 3,137 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $682.20 on Thursday. The stock has a market capitalization of $85.50 billion, a P/E ratio of 31.24, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $728.48. The firm’s 50 day simple moving average is $680.82 and its two-hundred day simple moving average is $623.83.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same quarter last year, the company earned $6.18 EPS. The firm’s revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is 10.99%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Bank of America upped their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Morgan Stanley raised their price target on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. UBS Group upped their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $686.69.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

McKesson 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.