Sompo Japan Nipponkoa Asset Management CO. LTD. Acquires New Position in McKesson Corporation (MCK)

Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new position in McKesson Corporation (NYSE:MCK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,550 shares of the company’s stock, valued at approximately $6,229,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Captrust Financial Advisors purchased a new position in McKesson during the second quarter valued at $107,000. Harvest Fund Management Co. Ltd purchased a new position in McKesson during the second quarter valued at $125,000. WFG Advisors LP grew its stake in McKesson by 5.0% during the second quarter. WFG Advisors LP now owns 859 shares of the company’s stock valued at $141,000 after acquiring an additional 41 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in McKesson during the second quarter valued at $165,000. Finally, CWH Capital Management Inc. purchased a new position in McKesson during the second quarter valued at $165,000. 88.10% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO John H. Hammergren sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $153.51, for a total value of $15,351,000.00. Following the completion of the sale, the chief executive officer now owns 165,000 shares in the company, valued at approximately $25,329,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. Insiders sold a total of 949,900 shares of company stock valued at $145,403,445 in the last 90 days. Company insiders own 1.20% of the company’s stock.

MCK has been the subject of a number of recent research reports. Needham & Company LLC set a $178.00 price objective on shares of McKesson and gave the stock a “buy” rating in a research note on Tuesday, October 24th. ValuEngine raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Deutsche Bank initiated coverage on shares of McKesson in a research note on Monday. They issued a “buy” rating and a $175.00 price objective for the company. TheStreet cut shares of McKesson from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Finally, Morgan Stanley cut shares of McKesson from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $184.00 to $172.00 in a research note on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $174.31.

McKesson Corporation (NYSE:MCK) traded down $1.35 during trading on Monday, hitting $146.39. 2,560,700 shares of the stock traded hands, compared to its average volume of 1,880,070. The company has a market cap of $30,518.58, a price-to-earnings ratio of 12.04, a PEG ratio of 1.50 and a beta of 1.23. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. McKesson Corporation has a 12-month low of $133.82 and a 12-month high of $169.29.

McKesson (NYSE:MCK) last released its earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.50. The firm had revenue of $52.06 billion during the quarter, compared to analyst estimates of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $2.94 EPS. equities analysts forecast that McKesson Corporation will post 12.16 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.93%. McKesson’s dividend payout ratio (DPR) is presently 6.45%.

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McKesson Profile

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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