Dai ichi Life Insurance Company Ltd Purchases 1,960 Shares of McKesson Co. (NYSE:MCK)

Dai ichi Life Insurance Company Ltd increased its position in McKesson Co. (NYSE:MCK) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,452 shares of the company’s stock after purchasing an additional 1,960 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in McKesson were worth $28,405,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. 1832 Asset Management L.P. bought a new position in McKesson during the 1st quarter valued at $102,000. Dynasty Wealth Management LLC bought a new position in McKesson during the 1st quarter valued at $1,086,000. B. Riley Wealth Advisors Inc. lifted its stake in McKesson by 10.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,747 shares of the company’s stock valued at $2,548,000 after acquiring an additional 449 shares in the last quarter. Tidal Investments LLC lifted its stake in McKesson by 31.7% during the 1st quarter. Tidal Investments LLC now owns 7,487 shares of the company’s stock valued at $4,021,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Semmax Financial Advisors Inc. lifted its stake in McKesson by 5.2% during the 1st quarter. Semmax Financial Advisors Inc. now owns 1,399 shares of the company’s stock valued at $776,000 after acquiring an additional 69 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MCK shares. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Down 1.0 %

MCK stock opened at $616.72 on Tuesday. The firm has a market capitalization of $78.29 billion, a PE ratio of 31.94, a PEG ratio of 1.35 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The stock has a 50-day simple moving average of $532.91 and a two-hundred day simple moving average of $557.99.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.23 EPS. On average, equities research analysts anticipate that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.