Today The Tokio Marine Asset Management Co. Ltd. Cuts Stake in McKesson Corporation (MCK)

Today The Tokio Marine Asset Management Co. Ltd. Cuts Stake in McKesson Corporation (MCK)

Tokio Marine Asset Management Co. Ltd. cut its stake in shares of McKesson Corporation (NYSE:MCK) by 7.0% during the third quarter, Holdings Channel reports. The fund owned 36,745 shares of the company’s stock after selling 2,772 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in McKesson Corporation were worth $6,127,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Nadler Financial Group Inc. boosted its stake in McKesson Corporation by 0.5% in the third quarter. Nadler Financial Group Inc. now owns 1,337 shares of the company’s stock valued at $223,000 after buying an additional 7 shares during the period. Pitcairn Co. boosted its stake in McKesson Corporation by 0.6% in the second quarter. Pitcairn Co. now owns 1,516 shares of the company’s stock valued at $283,000 after buying an additional 9 shares during the period. Pillar Pacific Capital Management LLC boosted its stake in McKesson Corporation by 0.4% in the second quarter. Pillar Pacific Capital Management LLC now owns 2,435 shares of the company’s stock valued at $454,000 after buying an additional 10 shares during the period. Quadrant Capital Group LLC boosted its stake in McKesson Corporation by 0.6% in the third quarter. Quadrant Capital Group LLC now owns 1,726 shares of the company’s stock valued at $281,000 after buying an additional 10 shares during the period. Finally, Citizens Financial Group Inc RI boosted its stake in McKesson Corporation by 0.6% in the second quarter. Citizens Financial Group Inc RI now owns 2,216 shares of the company’s stock valued at $414,000 after buying an additional 13 shares during the period. 85.54% of the stock is owned by institutional investors and hedge funds.

Shares of McKesson Corporation (NYSE:MCK) opened at 148.67 on Wednesday. The firm has a market capitalization of $33.61 billion, a price-to-earnings ratio of 17.82 and a beta of 1.06. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $199.43. The firm has a 50-day moving average price of $144.92 and a 200-day moving average price of $163.92.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 2nd. Shareholders of record on Thursday, December 1st were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.76%. McKesson Corporation’s dividend payout ratio (DPR) is presently 13.45%.

Several equities research analysts have recently commented on the company. Vetr upgraded McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $175.65 price target for the company in a research note on Wednesday. Leerink Swann set a $155.00 price target on McKesson Corporation and gave the stock a “hold” rating in a research note on Saturday. Avondale Partners upgraded McKesson Corporation from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $157.00 to $193.00 in a research note on Wednesday, January 18th. J P Morgan Chase & Co cut McKesson Corporation from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $171.00 to $169.00 in a research note on Thursday, January 5th. Finally, Mizuho cut McKesson Corporation from a “buy” rating to a “neutral” rating and set a $147.00 price target for the company. in a research note on Tuesday, January 3rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $176.11.

In other news, Director Wayne A. Budd sold 723 shares of the business’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $145.77, for a total value of $105,391.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Erin M. Lampert sold 921 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $123.99, for a total value of $114,194.79. Following the completion of the sale, the senior vice president now directly owns 1,765 shares in the company, valued at approximately $218,842.35. The disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.

McKesson Corporation Company 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.

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