Daiwa Securities Group Inc. Has $8.33 Million Holdings in McKesson Co. (NYSE:MCK)

Daiwa Securities Group Inc. decreased its stake in McKesson Co. (NYSE:MCK) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,847 shares of the company’s stock after selling 397 shares during the quarter. Daiwa Securities Group Inc.’s holdings in McKesson were worth $8,329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA raised its holdings in McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares during the period. Legal & General Group Plc increased its holdings in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after acquiring an additional 36,583 shares in the last quarter. Swedbank AB acquired a new stake in shares of McKesson during the first quarter worth about $669,326,000. Boston Partners lifted its holdings in shares of McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after purchasing an additional 47,140 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in McKesson by 7.9% during the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after purchasing an additional 62,875 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MCK. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Evercore ISI upped their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $631.57.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Stock Down 1.0 %

McKesson stock opened at $616.72 on Tuesday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The stock has a market cap of $78.29 billion, a P/E ratio of 31.94, a P/E/G ratio of 1.35 and a beta of 0.44. The company’s 50-day moving average price is $532.91 and its two-hundred day moving average price is $557.99.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the firm posted $6.23 EPS. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts anticipate that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.