McKesson Corporation $MCK Stock: Smith Group Asset Management LLC Reduces Stake

Smith Group Asset Management LLC lowered its stake in shares of McKesson Corporation (NYSE:MCK) by 37.6% in the third quarter, Holdings Channel reports. The institutional investor owned 41,304 shares of the company’s stock after selling 24,934 shares during the period. McKesson accounts for 2.3% of Smith Group Asset Management LLC’s holdings, making the stock its 18th biggest position. Smith Group Asset Management LLC’s holdings in McKesson were worth $35,266,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MCK. William Mack & Associates Inc. purchased a new stake in shares of McKesson during the 3rd quarter worth $51,000. Victory Financial Group LLC grew its position in shares of McKesson by 7.1% in the 3rd quarter. Victory Financial Group LLC now owns 375 shares of the company’s stock worth $320,000 after buying an additional 25 shares during the last quarter. Arrow Financial Corp raised its stake in shares of McKesson by 5.4% during the 3rd 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. raised its stake in shares of McKesson by 14.8% during the 3rd quarter. Great Lakes Retirement Inc. now owns 868 shares of the company’s stock worth $742,000 after acquiring an additional 112 shares in the last quarter. Finally, Generali Asset Management SPA SGR lifted its holdings in shares of McKesson by 5.7% during the 3rd quarter. Generali Asset Management SPA SGR now owns 9,054 shares of the company’s stock valued at $7,730,000 after purchasing an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, EVP Francisco Fraga sold 800 shares of McKesson stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the completion of the sale, the executive vice president owned 5,423 shares of the company’s stock, valued at $5,400,223.40. The trade was a 12.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,212 shares of company stock worth $1,164,182 over the last three months. 0.06% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of MCK stock opened at $958.96 on Thursday. The firm has a market capitalization of $111.81 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.99 and a beta of 0.30. The business has a fifty day moving average of $916.91 and a 200 day moving average of $861.22. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,030.27.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities research analysts expect that McKesson Corporation will post 44.71 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group increased their price target on McKesson from $1,080.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Bank of America lifted their target price on shares of McKesson from $950.00 to $1,050.00 in a research note on Thursday, August 6th. TD Cowen boosted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target 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.