Fisher Funds Management LTD Makes New Investment in McKesson Co. (NYSE:MCK)

Fisher Funds Management LTD bought a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 14,575 shares of the company’s stock, valued at approximately $8,295,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Old North State Trust LLC lifted its holdings in shares of McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont lifted its holdings in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the period. Hemington Wealth Management lifted its holdings in shares of McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after buying an additional 18 shares during the period. Black Diamond Financial LLC lifted its holdings in shares of McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after buying an additional 19 shares during the period. Finally, Calamos Wealth Management LLC lifted its holdings in shares of McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.0 %

NYSE:MCK opened at $597.68 on Friday. The firm has a market cap of $74.91 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock has a fifty day moving average price of $589.02 and a 200 day moving average price of $562.01. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson 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 completion of the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,307 shares of company stock valued at $6,177,790 in the last ninety days. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCK. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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.