Korea Investment CORP Grows Stake in McKesson Co. (NYSE:MCK)

Korea Investment CORP raised its position in McKesson Co. (NYSE:MCK) by 21.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,443 shares of the company’s stock after acquiring an additional 19,524 shares during the quarter. Korea Investment CORP owned approximately 0.09% of McKesson worth $64,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Millstone Evans Group LLC bought a new position in shares of McKesson in the fourth quarter worth about $28,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC bought a new stake in McKesson during the 4th quarter worth approximately $32,000. Crews Bank & Trust purchased a new position in McKesson during the fourth quarter valued at approximately $33,000. Finally, Atala Financial Inc bought a new position in McKesson in the 4th quarter worth $34,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCK has been the subject of several research analyst reports. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI lifted their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,689 shares of company stock valued at $11,187,351. Company insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK opened at $666.40 on Friday. The stock has a 50 day moving average price of $622.07 and a 200 day moving average price of $577.72. The firm has a market capitalization of $83.52 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $670.79.

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

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

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.