AIA Group Ltd Purchases New Stake in McKesson Co. (NYSE:MCK)

AIA Group Ltd purchased a new stake in McKesson Co. (NYSE:MCK) in the 4th quarter, HoldingsChannel reports. The fund purchased 3,400 shares of the company’s stock, valued at approximately $1,574,000.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd grew its position in McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. OFI Invest Asset Management purchased a new position in McKesson during the 3rd quarter worth $26,000. Legacy Financial Group LLC purchased a new position in McKesson during the 3rd quarter worth $27,000. Live Oak Investment Partners purchased a new position in McKesson during the 4th quarter worth $30,000. Finally, BKM Wealth Management LLC purchased a new position in McKesson during the 4th quarter worth $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $518.81 on Friday. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00. The stock has a market capitalization of $68.18 billion, a PE ratio of 23.51, a P/E/G ratio of 1.43 and a beta of 0.45. The company’s 50 day simple moving average is $524.44 and its two-hundred day simple moving average is $485.71.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the prior year, the company posted $6.90 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts anticipate that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of a number of analyst reports. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Mizuho lifted their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Morgan Stanley lifted their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group lifted their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $533.50.

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.