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

Harvest Fund Management Co. Ltd lowered its holdings in McKesson Co. (NYSE:MCK) by 84.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James & Associates grew its stake in McKesson by 6.1% during the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after acquiring an additional 8,784 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after buying an additional 5,425 shares during the period. Insight Wealth Strategies LLC acquired a new stake in shares of McKesson during the 4th quarter valued at $1,813,000. Aspire Private Capital LLC increased its stake in shares of McKesson by 3.2% in the third quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock worth $851,000 after acquiring an additional 60 shares during the last quarter. Finally, Argus Investors Counsel Inc. acquired a new position in shares of McKesson in the fourth quarter worth $891,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

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

McKesson Stock Up 0.8 %

Shares of MCK opened at $539.94 on Friday. The stock’s 50-day moving average price is $527.50 and its 200 day moving average price is $488.84. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $543.00. The firm has a market capitalization of $70.95 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $6.90 earnings per share. Equities research analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays started coverage on McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target for the company. UBS Group boosted their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Argus increased their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. SVB Leerink assumed coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Finally, Citigroup boosted 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. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

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.