Mizuho Securities USA LLC Has $6.86 Million Holdings in McKesson Co. (NYSE:MCK)

Mizuho Securities USA LLC grew its holdings in McKesson Co. (NYSE:MCK) by 43.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,031 shares of the company’s stock after purchasing an additional 3,622 shares during the period. Mizuho Securities USA LLC’s holdings in McKesson were worth $6,857,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in McKesson in the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new position in shares of McKesson during the 4th quarter valued at $32,000. Crews Bank & Trust acquired a new position in shares of McKesson in the fourth quarter worth $33,000. Atala Financial Inc purchased a new stake in shares of McKesson during the fourth quarter worth $34,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the third quarter valued at $31,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCK has been the subject of a number of recent research reports. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Finally, Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Stock Performance

McKesson stock opened at $659.45 on Friday. The business’s 50-day simple moving average is $616.14 and its 200-day simple moving average is $574.33. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $670.79. The firm has a market capitalization of $82.65 billion, a PE ratio of 30.19, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s dividend payout ratio is 13.00%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by company insiders.

McKesson Profile

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.