GF Fund Management CO. LTD. Makes New $1.85 Million Investment in McKesson Co. (NYSE:MCK)

GF Fund Management CO. LTD. bought a new stake in shares of McKesson Co. (NYSE:MCK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,242 shares of the company's stock, valued at approximately $1,848,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its position in shares of McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after acquiring an additional 222,496 shares during the last quarter. Geode Capital Management LLC raised its position in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after purchasing an additional 10,015 shares during the period. Franklin Resources Inc. lifted its holdings in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after purchasing an additional 114,396 shares during the last quarter. Norges Bank acquired a new position in shares of McKesson in the 4th quarter valued at $1,200,361,000. Finally, Northern Trust Corp increased its stake in McKesson by 9.0% in the 4th quarter. Northern Trust Corp now owns 1,532,203 shares of the company's stock worth $873,218,000 after purchasing an additional 126,940 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the sale, the chief financial officer now owns 14,760 shares of the company's stock, valued at $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president now directly owns 2,621 shares in the company, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,856 shares of company stock valued at $7,793,675. Insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on MCK. Wells Fargo & Company raised their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Mizuho increased their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Finally, Bank of America raised their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $686.69.

McKesson Stock Performance

Shares of NYSE:MCK traded up $8.37 during midday trading on Friday, hitting $721.23. 193,437 shares of the stock were exchanged, compared to its average volume of 912,081. The company has a market capitalization of $90.23 billion, a PE ratio of 33.02, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $731.00. The business's fifty day simple moving average is $694.04 and its two-hundred day simple moving average is $636.97.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the business earned $6.18 EPS. As a group, equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.

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.