Clark Capital Management Group Inc. Has $75.25 Million Stock Position in McKesson Corporation $MCK

Key Points

• Clark Capital Management Group cut its McKesson stake by 24.1% in the fourth quarter, but still held 91,736 shares valued at about $75.25 million.
• Wall Street sentiment remains positive overall: 14 analysts rate McKesson a Buy and three rate it Hold, with a consensus Moderate Buy rating and an average price target of $960.53.
• McKesson reported better-than-expected quarterly EPS of $11.69 and continues to pay a quarterly dividend of $0.82 per share, while recent insider sales totaled $8.99 million over the last 90 days.

Clark Capital Management Group Inc. reduced its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,736 shares of the company's stock after selling 29,066 shares during the quarter. Clark Capital Management Group Inc. owned 0.07% of McKesson worth $75,250,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the 4th quarter worth $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson during the 4th quarter worth approximately $26,000. GGM Financials LLC bought a new stake in shares of McKesson during the 3rd quarter worth approximately $25,000. State of Wyoming bought a new stake in shares of McKesson during the 2nd quarter worth approximately $29,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MCK shares. UBS Group upped their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a report on Friday, May 8th. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They set an "outperform" rating for the company. Evercore reaffirmed an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. Barclays cut their price target on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a report on Wednesday, June 10th. Finally, 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. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $960.53.

Insider Activity at McKesson

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the 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 $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares of the company's stock, valued at $2,351,768.10. This represents a 43.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares of the company's stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. 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 sold 11,822 shares of company stock worth $8,986,212 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

McKesson Price Performance

Shares of NYSE:MCK opened at $786.55 on Wednesday. The company has a market cap of $92.09 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.28 and a beta of 0.31. The firm has a 50 day simple moving average of $794.00 and a 200 day simple moving average of $844.72. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. The business 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 firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio is presently 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.

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