E Fund Management Co. Ltd. Has $500,000 Stock Holdings in McKesson Co. (NYSE:MCK)

E Fund Management Co. Ltd. lifted its holdings in McKesson Co. (NYSE:MCK) by 60.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 877 shares of the company’s stock after buying an additional 332 shares during the period. E Fund Management Co. Ltd.’s holdings in McKesson were worth $500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Old North State Trust LLC boosted its position in shares of McKesson by 1.6% in the third 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 boosted its position in shares of McKesson by 4.8% in the fourth 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 boosted its position in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after purchasing an additional 18 shares during the last quarter. Black Diamond Financial LLC boosted its position in McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after purchasing an additional 19 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its position in McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s 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 transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock worth $11,536,378 over the last three months. Company insiders own 0.11% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $644.92 on Friday. The business’s 50-day simple moving average is $600.67 and its 200-day simple moving average is $567.36. The firm has a market capitalization of $80.82 billion, a PE ratio of 29.53, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $653.92.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 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%. Research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s dividend payout ratio is 13.00%.

Analysts Set New Price Targets

A number of analysts recently issued reports on MCK shares. Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Finally, Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson 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.