McKesson Co. (NYSE:MCK) Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co reduced its stake in McKesson Co. (NYSE:MCK) by 38.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 640 shares of the company’s stock after selling 406 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in McKesson were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson in the 3rd quarter valued at $29,000. Crews Bank & Trust bought a new stake in McKesson during the 4th quarter worth about $33,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the 3rd quarter valued at about $31,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson during the 4th quarter worth approximately $44,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on MCK shares. Evercore ISI lifted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Performance

NYSE:MCK opened at $624.53 on Thursday. The company has a market capitalization of $78.27 billion, a PE ratio of 28.60, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a 50 day simple moving average of $592.07 and a two-hundred day simple moving average of $563.06.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.45%. McKesson’s dividend payout ratio is currently 13.00%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is currently owned by insiders.

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.