Harvest Fund Management Co. Ltd grew its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 4,835.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,073 shares of the company's stock after purchasing an additional 2,031 shares during the period. Harvest Fund Management Co. Ltd's holdings in McKesson were worth $1,181,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its stake in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Janus Henderson Group PLC increased its stake in McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock worth $283,903,000 after buying an additional 321,119 shares during the period. Proficio Capital Partners LLC acquired a new stake in McKesson during the 4th quarter worth approximately $178,397,000. Finally, Raymond James Financial Inc. purchased a new position in McKesson in the 4th quarter valued at approximately $128,125,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on MCK. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target on the stock. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $649.36.
View Our Latest Research Report on McKesson
Shares of NYSE:MCK opened at $664.09 on Thursday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $666.99. The firm has a market capitalization of $83.23 billion, a P/E ratio of 30.41, a P/E/G ratio of 1.29 and a beta of 0.52. The company's fifty day moving average price is $613.05 and its 200 day moving average price is $573.00.
McKesson (NYSE:MCK - Get Free Report) last posted its 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%. On average, sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson's payout ratio is currently 13.00%.
In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction 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 represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,689 shares of company stock worth $11,187,351. Insiders own 0.11% of the company's stock.
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.
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