5,357 Shares in McKesson Corporation $MCK Bought by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 5,357 shares of the company’s stock, valued at approximately $4,048,000.

A number of other large investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of McKesson in the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson in the 4th quarter valued at about $26,000. State of Wyoming bought a new stake in shares of McKesson in the 2nd quarter valued at about $29,000. Kingdom Financial Group LLC. acquired a new stake in McKesson in the 4th quarter valued at about $33,000. Finally, Birchwood Financial Partners Inc. acquired a new stake in McKesson in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction on 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 directly owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. Insiders sold a total of 29,049 shares of company stock worth $22,530,626 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

Shares of MCK opened at $862.27 on Friday. McKesson Corporation has a 52 week low of $673.38 and a 52 week high of $999.00. The firm has a market cap of $100.53 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30. The firm’s 50-day simple moving average is $820.97 and its 200 day simple moving average is $843.86.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period last year, the business posted $8.26 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is 8.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank Of Canada initiated coverage on McKesson in a research report on Wednesday. They set a “sector perform” rating and a $845.00 price target on the stock. Citigroup raised their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Finally, Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $973.44.

About McKesson

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.