Fisher Asset Management LLC Has $526,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Fisher Asset Management LLC cut its position in shares of McKesson Co. (NYSE:MCK) by 25.7% during the 4th quarter, Holdings Channel reports. The firm owned 923 shares of the company’s stock after selling 319 shares during the quarter. Fisher Asset Management LLC’s holdings in McKesson were worth $526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the 3rd quarter valued at about $31,000. Synergy Asset Management LLC acquired a new position in McKesson in the 4th quarter valued at about $32,000. Crews Bank & Trust acquired a new position in McKesson in the 4th quarter valued at about $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson in the 4th quarter valued at about $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This trade represents 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 sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is currently owned by company insiders.

McKesson Price Performance

MCK stock opened at $642.84 on Friday. The company has a 50 day simple moving average of $599.30 and a 200 day simple moving average of $566.69. The stock has a market cap of $80.56 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $653.92.

McKesson (NYSE:MCK) last released its quarterly earnings data 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%. On average, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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 given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research reports. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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.