Harvest Fund Management Co. Ltd Has $101,000 Holdings in McKesson Co. (NYSE:MCK)

Harvest Fund Management Co. Ltd lowered its stake in McKesson Co. (NYSE:MCK) by 84.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 219 shares of the company’s stock after selling 1,176 shares during the period. Harvest Fund Management Co. Ltd’s holdings in McKesson were worth $101,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in McKesson during the fourth quarter valued at about $330,000. National Wealth Management Group LLC grew its stake in shares of McKesson by 18.6% in the fourth quarter. National Wealth Management Group LLC now owns 1,359 shares of the company’s stock worth $629,000 after acquiring an additional 213 shares during the last quarter. Larson Financial Group LLC boosted its holdings in McKesson by 80.9% in the 4th quarter. Larson Financial Group LLC now owns 351 shares of the company’s stock valued at $163,000 after purchasing an additional 157 shares during the period. Aspire Private Capital LLC lifted its stake in shares of McKesson by 3.1% in the fourth quarter. Aspire Private Capital LLC now owns 2,018 shares of the company’s stock valued at $935,000 after buying an additional 61 shares during the period. Finally, California Public Employees Retirement System raised its holdings in McKesson by 9.1% in the 4th quarter. California Public Employees Retirement System now owns 668,340 shares of the company’s stock valued at $309,428,000 after acquiring an additional 55,965 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on MCK shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. SVB Leerink began coverage on McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price for the company. UBS Group increased their price objective on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Citigroup upped their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

McKesson Price Performance

NYSE:MCK opened at $539.94 on Friday. The stock has a market capitalization of $70.95 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00. The business’s 50-day simple moving average is $527.50 and its 200-day simple moving average is $488.84.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the prior year, the firm earned $6.90 earnings per share. McKesson’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts expect that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.24%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available through this link. In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.