Harvest Fund Management Co. Ltd Raises Position in McKesson Co. (NYSE:MCK)

Harvest Fund Management Co. Ltd increased its position in shares of McKesson Co. (NYSE:MCK) by 4,835.7% in the 4th quarter, according to its most recent disclosure 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.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd raised its stake in shares of McKesson by 80.6% during the 4th quarter. Vinva Investment Management Ltd now owns 6,341 shares of the company’s stock worth $3,619,000 after buying an additional 2,829 shares in the last quarter. Stokes Family Office LLC acquired a new position in McKesson during the fourth quarter worth $228,000. Xponance Inc. raised its position in McKesson by 1.8% in the fourth quarter. Xponance Inc. now owns 29,592 shares of the company’s stock worth $16,865,000 after acquiring an additional 534 shares in the last quarter. Boston Partners lifted its holdings in 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 acquiring an additional 216,432 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new stake in McKesson in the fourth quarter valued at $7,269,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction 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 transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,689 shares of company stock valued at $11,187,351. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $664.09 on Thursday. The company has a 50-day simple moving average of $613.05 and a 200-day simple moving average of $573.00. The company has a market cap of $83.23 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $666.99.

McKesson (NYSE:MCK) last released its 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. 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 (DPR) is presently 13.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCK. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Evercore ISI raised 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. Finally, Wells Fargo & Company boosted their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $649.36.

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.