SmartHarvest Portfolios LLC Takes $652,000 Position in McKesson Corporation $MCK

SmartHarvest Portfolios LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 795 shares of the company’s stock, valued at approximately $652,000.

Several other institutional investors have also recently added to or reduced their stakes in MCK. Vanguard Group Inc. lifted its stake in McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after purchasing an additional 73,109 shares in the last quarter. State Street Corp grew its stake in shares of McKesson by 0.9% in the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock valued at $4,447,110,000 after buying an additional 51,510 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of McKesson by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after buying an additional 25,082 shares during the period. Franklin Resources Inc. raised its holdings in shares of McKesson by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after buying an additional 144,633 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in McKesson by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after acquiring an additional 126,684 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other news, CEO Brian S. Tyler sold 4,929 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $763.00, for a total value of $3,760,827.00. Following the sale, the chief executive officer directly owned 22,845 shares in the company, valued at approximately $17,430,735. This trade represents a 17.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction on 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 sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 11,822 shares of company stock valued at $8,986,212. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCK. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Leerink Partners restated an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a report on Thursday, March 5th. Bank of America cut their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Raymond James Financial set a $970.00 target price on shares of McKesson in a report on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

McKesson Price Performance

MCK stock opened at $788.44 on Friday. The business’s 50-day moving average is $799.89 and its two-hundred day moving average is $846.79. The firm has a market capitalization of $94.77 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.30 and a beta of 0.31. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

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

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 8.53%.

McKesson Company 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.