Safe Harbor Fiduciary LLC Acquires Shares of 1,548 McKesson Corporation $MCK

Safe Harbor Fiduciary LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,548 shares of the company’s stock, valued at approximately $1,134,000. McKesson accounts for approximately 1.1% of Safe Harbor Fiduciary LLC’s portfolio, making the stock its 29th biggest holding.

A number of other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares in the last quarter. Cardinal Point Capital Management ULC grew its position in shares of McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after buying an additional 14 shares in the last quarter. Cypress Wealth Services LLC increased its stake in shares of McKesson by 3.7% during the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after buying an additional 15 shares during the period. HBK Sorce Advisory LLC raised its holdings in shares of McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock valued at $866,000 after acquiring an additional 16 shares in the last quarter. Finally, Valmark Advisers Inc. lifted its stake in McKesson by 2.1% in the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock worth $618,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several recent research reports. Citigroup increased their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Jefferies Financial Group increased their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Leerink Partners lifted their price objective on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $887.69.

McKesson Price Performance

MCK stock opened at $884.76 on Thursday. The firm’s fifty day simple moving average is $799.61 and its 200-day simple moving average is $738.51. The company has a market capitalization of $109.20 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 12 month low of $558.13 and a 12 month high of $895.58.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the previous year, the company posted $7.07 earnings per share. McKesson’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.