McKesson Corporation $MCK Holdings Decreased by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC decreased its position in McKesson Corporation (NYSE:MCK) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,609 shares of the company’s stock after selling 349 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in McKesson were worth $4,843,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MCK. MassMutual Private Wealth & Trust FSB increased its stake in shares of McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after buying an additional 14 shares during the period. CVA Family Office LLC boosted its position in McKesson by 6.0% during the first quarter. CVA Family Office LLC now owns 265 shares of the company’s stock valued at $178,000 after acquiring an additional 15 shares during the last quarter. Palisade Asset Management LLC increased its stake in McKesson by 2.1% in the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock valued at $481,000 after buying an additional 15 shares during the last quarter. SteelPeak Wealth LLC grew its stake in McKesson by 0.5% in the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after buying an additional 15 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in McKesson by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock valued at $1,683,000 after purchasing an additional 16 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research reports. Wells Fargo & Company raised their price target on McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 13th. Morgan Stanley reissued an “overweight” rating and set a $810.00 target price (up from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday. Evercore ISI lifted their target price on shares of McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Finally, Cowen reissued a “buy” rating on shares of McKesson in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $725.10.

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,560 shares of company stock valued at $30,438,602 in the last quarter. Insiders own 0.08% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $698.07 on Monday. The business has a fifty day moving average of $695.15 and a 200 day moving average of $696.81. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The firm has a market capitalization of $86.83 billion, a P/E ratio of 27.83, a PEG ratio of 1.39 and a beta of 0.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The business had revenue of $97.83 billion during 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 company’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 earnings per share. Analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal 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 issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. McKesson’s dividend payout ratio is 13.08%.

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.