McKesson Co. (NYSE:MCK) Holdings Raised by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its stake in McKesson Co. (NYSE:MCK) by 50.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,242 shares of the company’s stock after purchasing an additional 414 shares during the quarter. Fisher Asset Management LLC’s holdings in McKesson were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. LRI Investments LLC acquired a new position in shares of McKesson in the first quarter worth about $28,000. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in McKesson during the 3rd quarter worth approximately $29,000. ORG Wealth Partners LLC acquired a new stake in McKesson during the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson in the second quarter valued at $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Mizuho upped their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Evercore ISI lifted their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $631.57.

McKesson Stock Performance

MCK opened at $628.50 on Friday. The firm has a market cap of $79.78 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. The business has a 50 day moving average price of $542.22 and a 200 day moving average price of $559.96. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the company earned $6.23 earnings per share. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts anticipate that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

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.