McKesson Corporation $MCK Stock Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC cut its holdings in McKesson Corporation (NYSE:MCK) by 37.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,304 shares of the company’s stock after selling 24,934 shares during the period. McKesson comprises 2.3% of Smith Group Asset Management LLC’s holdings, making the stock its 18th largest holding. Smith Group Asset Management LLC’s holdings in McKesson were worth $35,266,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. William Mack & Associates Inc. purchased a new stake in shares of McKesson during the 3rd quarter valued at about $51,000. Victory Financial Group LLC grew its position in McKesson by 7.1% in the third quarter. Victory Financial Group LLC now owns 375 shares of the company’s stock worth $320,000 after acquiring an additional 25 shares in the last quarter. Arrow Financial Corp grew its position in McKesson by 5.4% in the third quarter. Arrow Financial Corp now owns 1,345 shares of the company’s stock worth $1,148,000 after acquiring an additional 69 shares in the last quarter. Great Lakes Retirement Inc. increased its stake in McKesson by 14.8% during the third quarter. Great Lakes Retirement Inc. now owns 868 shares of the company’s stock worth $742,000 after acquiring an additional 112 shares during the last quarter. Finally, Generali Asset Management SPA SGR increased its stake in McKesson by 5.7% during the third quarter. Generali Asset Management SPA SGR now owns 9,054 shares of the company’s stock worth $7,730,000 after acquiring an additional 487 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In related news, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. The trade was a 17.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,212 shares of company stock worth $1,164,182. 0.06% of the stock is currently owned by company insiders.

McKesson Trading Down 0.8%

Shares of NYSE:MCK opened at $958.96 on Thursday. The company has a market capitalization of $111.81 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.99 and a beta of 0.30. McKesson Corporation has a 12 month low of $723.68 and a 12 month high of $1,030.27. The firm’s 50-day moving average is $916.91 and its 200 day moving average is $861.22.

McKesson (NYSE:MCK) last announced 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. The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts forecast that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 10.06%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent research reports. Morgan Stanley set a $977.00 price objective on McKesson in a research report on Tuesday, October 6th. Argus lifted their target price on McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Mizuho boosted their target price on McKesson from $905.00 to $1,020.00 and gave the company a “neutral” rating in a research report on Tuesday, October 20th. TD Cowen boosted their target price on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $997.12.

McKesson Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.