Fisher Asset Management LLC Reduces Stock Holdings in McKesson Co. (NYSE:MCK)

Fisher Asset Management LLC decreased its stake in McKesson Co. (NYSE:MCK) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 758 shares of the company’s stock after selling 20 shares during the quarter. Fisher Asset Management LLC’s holdings in McKesson were worth $351,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. Sachetta LLC bought a new stake in McKesson during the 4th quarter valued at $27,000. BKM Wealth Management LLC bought a new stake in McKesson during the 4th quarter valued at $31,000. Richardson Financial Services Inc. bought a new stake in McKesson during the 4th quarter valued at $31,000. Carolinas Wealth Consulting LLC raised its position in McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its position in shares of McKesson by 42.5% in the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, EVP Leann B. Smith sold 704 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $392,895.36. Following the completion of the transaction, the executive vice president now owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 600 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the transaction, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,814 shares of company stock valued at $14,511,649. 0.21% of the stock is owned by company insiders.

McKesson Stock Up 0.8 %

Shares of MCK opened at $607.81 on Tuesday. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $609.57. The company has a market capitalization of $79.01 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 1.41 and a beta of 0.47. The stock’s 50-day moving average price is $560.22 and its 200-day moving average price is $521.70.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $7.19 EPS. As a group, equities analysts anticipate that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 0.41%. McKesson’s payout ratio is 11.08%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCK. Morgan Stanley boosted their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Citigroup boosted their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Wells Fargo & Company boosted their price target on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Barclays boosted their target price on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Argus boosted their target price on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $578.13.

McKesson Company 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.