Harbour Investments Inc. Boosts Holdings in McKesson Corporation $MCK

Key Points

• Harbour Investments Inc. boosted its McKesson stake by 278.9% in the fourth quarter, ending with 5,396 shares valued at about $4.43 million.
• Wall Street sentiment remains constructive: McKesson has 14 Buy ratings and 3 Holds, with a consensus target price of $968.87.
• McKesson beat EPS expectations in its latest quarter, reporting $11.69 per share, and also announced a quarterly dividend of $0.82 per share.

Harbour Investments Inc. increased its stake in McKesson Corporation (NYSE:MCK - Free Report) by 278.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,396 shares of the company's stock after buying an additional 3,972 shares during the period. Harbour Investments Inc.'s holdings in McKesson were worth $4,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. raised its holdings in McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock worth $1,855,000 after buying an additional 11 shares during the period. Obsidian Personal Planning Solutions LLC raised its holdings in McKesson by 2.9% during the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company's stock worth $346,000 after buying an additional 12 shares during the period. LRI Investments LLC raised its holdings in McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company's stock worth $91,000 after buying an additional 12 shares during the period. Macroview Investment Management LLC raised its holdings in McKesson by 3.9% during the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock worth $264,000 after buying an additional 12 shares during the period. Finally, Berkshire Asset Management LLC PA raised its holdings in McKesson by 4.6% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company's stock worth $227,000 after buying an additional 13 shares during the period. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent analyst reports. Leerink Partners restated an "outperform" rating and set a $1,085.00 price objective on shares of McKesson in a report on Thursday, March 5th. Evercore restated an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Mizuho boosted their price objective on McKesson from $880.00 to $885.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. Finally, Barclays boosted their price objective on McKesson from $960.00 to $1,050.00 and gave the stock an "overweight" rating in a report on Wednesday, February 18th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $968.87.

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 2,725 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $990.00, for a total value of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at $3,214,530. This represents a 45.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of MCK opened at $756.11 on Wednesday. The company has a market capitalization of $90.89 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 1.14 and a beta of 0.35. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The business's 50-day moving average is $830.95 and its 200-day moving average is $854.59.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts' consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts expect that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. 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 is currently 8.53%.

McKesson 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.

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