SmartHarvest Portfolios LLC Purchases New Shares in McKesson Corporation $MCK

SmartHarvest Portfolios LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 795 shares of the company’s stock, valued at approximately $652,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cullen Investment Group LTD. boosted its stake in shares of McKesson by 550.4% in the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after acquiring an additional 3,952 shares during the last quarter. Pensionfund Sabic acquired a new position in McKesson in the 4th quarter valued at $1,887,000. Varma Mutual Pension Insurance Co lifted its holdings in McKesson by 28.9% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 21,853 shares of the company’s stock valued at $16,882,000 after purchasing an additional 4,900 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in McKesson by 18.8% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,009 shares of the company’s stock valued at $7,732,000 after purchasing an additional 1,585 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in McKesson by 24.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 242,256 shares of the company’s stock worth $187,152,000 after purchasing an additional 47,352 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCK. Raymond James Financial set a $970.00 target price on shares of McKesson in a report on Thursday, March 5th. UBS Group upped their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company cut their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Finally, Bank of America lowered their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $960.53.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their position. The transaction was disclosed in a filing 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 the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This 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. Insiders have sold 11,822 shares of company stock worth $8,986,212 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Down 0.3%

NYSE MCK opened at $788.44 on Friday. The business’s fifty day simple moving average is $799.89 and its 200-day simple moving average is $846.79. The firm has a market cap of $94.77 billion, a PE ratio of 20.50, a P/E/G ratio of 1.30 and a beta of 0.31. McKesson Corporation has a 52 week low of $637.00 and a 52 week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the prior year, the firm posted $10.12 earnings per share. McKesson’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date 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 (DPR) is currently 8.53%.

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.