Clare Market Investments LLC Makes New Investment in McKesson Corporation $MCK

Key Points

• Clare Market Investments LLC initiated a new position in McKesson during the first quarter, buying 2,665 shares valued at about $2.3 million.
• McKesson reported Q1 earnings of $11.69 per share, topping expectations, though revenue of $96.3 billion came in below estimates. The company also raised guidance for FY 2027 EPS to 43.8-44.6.
• Insiders have been selling shares recently, including CEO Brian S. Tyler and EVP Thomas L. Rodgers, while analysts remain mostly positive with a Moderate Buy consensus and average price target of $960.53.

Clare Market Investments LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,665 shares of the company's stock, valued at approximately $2,306,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock worth $1,438,000 after buying an additional 798 shares during the period. Caxton Associates LLP acquired a new position in McKesson during the 1st quarter worth $233,000. Sivia Capital Partners LLC increased its holdings in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock valued at $502,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock valued at $42,958,000 after purchasing an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson in the 2nd quarter valued at about $166,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

Shares of MCK opened at $801.93 on Tuesday. The firm has a market cap of $93.89 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.29 and a beta of 0.31. The business's fifty day moving average is $769.23 and its 200-day moving average is $839.09. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Insider Transactions at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. This represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the transaction, the chief executive officer directly owned 14,382 shares of the company's stock, valued at $11,147,919.66. This represents a 37.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 20,285 shares of company stock valued at $15,546,137. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Wells Fargo & Company cut their price target 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. William Blair initiated coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an "outperform" rating on the stock. Citigroup cut their price objective on McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. Finally, Bank of America decreased 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $960.53.

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.

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