Nomura Asset Management Co. Ltd. Sells 541 Shares of McKesson Co. (NYSE:MCK)

Nomura Asset Management Co. Ltd. reduced its position in shares of McKesson Co. (NYSE:MCK) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 198,087 shares of the company’s stock after selling 541 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in McKesson were worth $112,892,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MCK. Millstone Evans Group LLC bought a new stake in McKesson in the fourth quarter valued at about $28,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter valued at $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at about $32,000. Crews Bank & Trust acquired a new stake in McKesson during the 4th quarter worth $33,000. Finally, Atala Financial Inc bought a new position in McKesson in the fourth quarter valued at approximately $34,000. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MCK shares. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. 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. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’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 directly owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $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 worth $11,187,351 in the last three months. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Up 0.5 %

Shares of NYSE:MCK opened at $666.40 on Friday. The stock has a market cap of $83.52 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.29 and a beta of 0.52. The business’s 50 day moving average is $622.07 and its 200 day moving average is $577.72. McKesson Co. has a 12-month low of $464.42 and a 12-month 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 for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

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.