Rakuten Securities Inc. Has $29,000 Stock Position in McKesson Co. (NYSE:MCK)

Rakuten Securities Inc. cut its position in shares of McKesson Co. (NYSE:MCK) by 95.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51 shares of the company’s stock after selling 967 shares during the quarter. Rakuten Securities Inc.’s holdings in McKesson were worth $29,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MCK. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson during the third quarter worth $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson during the fourth quarter worth $33,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of McKesson during the fourth quarter worth $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

MCK opened at $642.65 on Friday. The company’s 50-day moving average is $607.07 and its 200 day moving average is $569.97. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $663.61. The firm has a market capitalization of $80.54 billion, a P/E ratio of 29.43, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MCK. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Evercore ISI increased their target price 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. Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. 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 company’s stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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.