Principal Securities Inc. Grows Stake in McKesson Co. (NYSE:MCK)

Principal Securities Inc. increased its holdings in shares of McKesson Co. (NYSE:MCK) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,889 shares of the company’s stock after purchasing an additional 482 shares during the quarter. Principal Securities Inc.’s holdings in McKesson were worth $2,786,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after buying an additional 138,685 shares in the last quarter. FMR LLC lifted its stake in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of McKesson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after acquiring an additional 26,299 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK opened at $593.82 on Tuesday. The stock has a market capitalization of $75.38 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The business’s 50-day simple moving average is $587.26 and its 200-day simple moving average is $562.38.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 forecast that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MCK shares. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 1,346 shares of company stock valued at $795,275. 0.11% of the stock is owned by corporate insiders.

About McKesson

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.