McKesson Co. (NYSE:MCK) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 4,835.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,073 shares of the company's stock after acquiring 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 institutional investors and hedge funds have also recently modified their holdings of MCK. Massachusetts Financial Services Co. MA increased its position in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock valued at $2,444,175,000 after buying an additional 138,685 shares in the last quarter. FMR LLC increased its holdings in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after acquiring an additional 438,423 shares in the last quarter. Geode Capital Management LLC raised its position in McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company's stock worth $1,306,873,000 after acquiring an additional 26,299 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in McKesson by 55.8% during 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. Finally, Boston Partners grew its position in shares of McKesson by 24.6% in the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock valued at $625,501,000 after purchasing an additional 216,432 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

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Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Finally, Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus price target of $649.36.

McKesson Price Performance

MCK traded up $0.39 during trading hours on Monday, reaching $661.56. The company's stock had a trading volume of 775,431 shares, compared to its average volume of 800,762. The stock has a market cap of $82.91 billion, a PE ratio of 30.29, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $673.23. The business's 50-day moving average is $616.14 and its 200-day moving average is $574.35.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

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.