Fisher Asset Management LLC Buys New Stake in McKesson Co. (NYSE:MCK)

Fisher Asset Management LLC bought a new stake in shares of McKesson Co. (NYSE:MCKGet Rating) in the 1st quarter, Holdings Channel reports. The institutional investor bought 962 shares of the company’s stock, valued at approximately $295,000.

Several other institutional investors also recently bought and sold shares of MCK. Cornerstone Advisory LLC purchased a new position in McKesson during the fourth quarter valued at $25,000. Riverview Trust Co purchased a new position in McKesson during the first quarter valued at $28,000. EverSource Wealth Advisors LLC purchased a new position in McKesson during the fourth quarter valued at $37,000. Benjamin Edwards Inc. purchased a new position in McKesson during the fourth quarter valued at $38,000. Finally, Johnson Financial Group Inc. purchased a new position in McKesson during the fourth quarter valued at $38,000. 85.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In related news, EVP Thomas L. Rodgers sold 160 shares of McKesson stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $316.42, for a total transaction of $50,627.20. Following the completion of the sale, the executive vice president now owns 3,844 shares in the company, valued at approximately $1,216,318.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Thomas L. Rodgers sold 160 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $316.42, for a total value of $50,627.20. Following the completion of the sale, the executive vice president now owns 3,844 shares in the company, valued at approximately $1,216,318.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 209 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $326.90, for a total transaction of $68,322.10. Following the completion of the sale, the executive vice president now owns 3,353 shares of the company’s stock, valued at approximately $1,096,095.70. The disclosure for this sale can be found here. Insiders sold 72,628 shares of company stock worth $23,779,745 in the last 90 days. 0.21% of the stock is owned by corporate insiders.

McKesson Trading Up 2.6 %

MCK stock opened at $346.69 on Friday. McKesson Co. has a 12 month low of $192.38 and a 12 month high of $348.49. The company has a 50-day moving average price of $324.08 and a 200 day moving average price of $306.13. The stock has a market cap of $49.78 billion, a PE ratio of 36.65, a P/E/G ratio of 1.47 and a beta of 0.63.

McKesson (NYSE:MCKGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $5.83 earnings per share for the quarter, missing analysts’ consensus estimates of $6.06 by ($0.23). McKesson had a net margin of 0.52% and a negative return on equity of 407.69%. The company had revenue of $66.10 billion for the quarter, compared to the consensus estimate of $63.82 billion. During the same quarter in the previous year, the business earned $5.05 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts forecast that McKesson Co. will post 23.26 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 1st will be issued a dividend of $0.54 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, August 31st. This represents a $2.16 dividend on an annualized basis and a yield of 0.62%. McKesson’s dividend payout ratio (DPR) is presently 19.87%.

Analyst Ratings Changes

MCK has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised shares of McKesson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $343.00 to $378.00 in a research note on Tuesday, June 7th. Mizuho lifted their price objective on shares of McKesson from $331.00 to $345.00 and gave the stock a “neutral” rating in a research note on Thursday. Cowen lifted their price objective on shares of McKesson from $325.00 to $361.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. Cowen lifted their price objective on shares of McKesson from $325.00 to $361.00 in a research note on Monday, April 18th. Finally, UBS Group lifted their price objective on shares of McKesson from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.85.

About McKesson

(Get Rating)

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

Featured Stories

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCKGet Rating).

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.