Smith Group Asset Management LLC Has $54.17 Million Stock Holdings in McKesson Corporation $MCK

Smith Group Asset Management LLC lifted its holdings in McKesson Corporation (NYSE:MCK) by 7.9% during the 1st quarter, Holdings Channel reports. The fund owned 62,597 shares of the company’s stock after acquiring an additional 4,564 shares during the quarter. McKesson makes up approximately 2.8% of Smith Group Asset Management LLC’s portfolio, making the stock its 10th biggest position. Smith Group Asset Management LLC’s holdings in McKesson were worth $54,169,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares during the last quarter. Caxton Associates LLP acquired a new position in McKesson during the 1st quarter worth about $233,000. Sivia Capital Partners LLC grew its holdings in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after acquiring an additional 300 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in McKesson in the 2nd quarter valued at about $166,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McKesson news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,748 shares of company stock valued at $22,262,035 in the last three months. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on MCK. UBS Group boosted their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Bank of America dropped their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. TD Cowen reduced their price objective on McKesson from $1,012.00 to $989.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $962.67.

McKesson Price Performance

Shares of NYSE:MCK opened at $891.37 on Wednesday. The stock has a market cap of $104.36 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.40 and a beta of 0.31. The company has a 50 day moving average of $784.12 and a 200-day moving average of $839.21. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the business posted $10.12 earnings per share. McKesson’s revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 8.53%.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.