McKesson Corporation $MCK Shares Bought by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. boosted its position in shares of McKesson Corporation (NYSE:MCK) by 0.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,661 shares of the company’s stock after acquiring an additional 626 shares during the period. Clark Capital Management Group Inc.’s holdings in McKesson were worth $79,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC lifted its position in shares of McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company’s stock worth $178,000 after buying an additional 15 shares during the last quarter. Palisade Asset Management LLC lifted its position in shares of McKesson by 2.1% during the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after buying an additional 15 shares during the last quarter. SteelPeak Wealth LLC lifted its position in shares of McKesson by 0.5% during the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after buying an additional 15 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock worth $1,683,000 after buying an additional 16 shares during the last quarter. Finally, Eagle Rock Investment Company LLC lifted its position in shares of McKesson by 0.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company’s stock worth $3,229,000 after buying an additional 17 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $690.13 on Thursday. The company has a market cap of $85.84 billion, a P/E ratio of 27.52, a PEG ratio of 1.37 and a beta of 0.51. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The firm has a fifty day moving average of $700.53 and a two-hundred day moving average of $689.24.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.88 EPS. As a group, equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is currently 13.08%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MCK shares. Wells Fargo & Company boosted their price objective on shares of McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. Cowen restated a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. Evercore ISI boosted their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $810.00 price target (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $725.10.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,930 shares of company stock valued at $44,112,466. 0.08% of the stock is owned by insiders.

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.