Dai ichi Life Insurance Company Ltd Has $28.41 Million Stock Position in McKesson Co. (NYSE:MCK)

Dai ichi Life Insurance Company Ltd boosted its stake in shares of McKesson Co. (NYSE:MCK) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 57,452 shares of the company’s stock after buying an additional 1,960 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in McKesson were worth $28,405,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew 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 in the last quarter. Qsemble Capital Management LP bought a new position in shares of McKesson during the 3rd quarter worth approximately $1,633,000. Private Trust Co. NA grew its stake in shares of McKesson by 4.1% during the 3rd quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock worth $1,016,000 after acquiring an additional 81 shares in the last quarter. Hancock Whitney Corp grew its stake in shares of McKesson by 0.8% during the 3rd quarter. Hancock Whitney Corp now owns 2,892 shares of the company’s stock worth $1,430,000 after acquiring an additional 24 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of McKesson during the 3rd quarter worth approximately $60,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $616.72 on Tuesday. The business’s 50 day simple moving average is $532.91 and its 200 day simple moving average is $557.99. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock 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 (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business earned $6.23 EPS. As a group, research analysts expect that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

MCK has been the subject of several research reports. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Evercore ISI raised their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Barclays lifted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $631.57.

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.