Sumitomo Mitsui Trust Group Inc. Has $158.32 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Sumitomo Mitsui Trust Group Inc. increased its position in McKesson Co. (NYSE:MCK) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 320,207 shares of the company’s stock after acquiring an additional 1,725 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in McKesson were worth $158,317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Distillate Capital Partners LLC grew its position in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares during the period. Chase Investment Counsel Corp raised its position in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC lifted its stake in shares of McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares during the period. Councilmark Asset Management LLC bought a new position in shares of McKesson in the 1st quarter worth $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new stake in shares of McKesson during the second quarter worth $238,000. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on MCK shares. Evercore ISI raised their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Barclays upped their target price on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Citigroup dropped their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Two 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 company. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $625.64.

McKesson Trading Up 0.3 %

Shares of MCK opened at $617.68 on Wednesday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The firm has a fifty day simple moving average of $514.12 and a 200 day simple moving average of $552.38. The stock has a market capitalization of $80.10 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.39 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the company earned $6.23 EPS. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, research analysts predict that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is presently 14.71%.

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.