Clifford Swan Investment Counsel LLC Decreases Stock Position in McKesson Corporation $MCK

Clifford Swan Investment Counsel LLC lessened its stake in McKesson Corporation (NYSE:MCK) by 5.4% in the first quarter, HoldingsChannel reports. The fund owned 36,643 shares of the company’s stock after selling 2,111 shares during the period. McKesson makes up about 1.1% of Clifford Swan Investment Counsel LLC’s portfolio, making the stock its 26th biggest position. Clifford Swan Investment Counsel LLC’s holdings in McKesson were worth $31,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in McKesson during the 4th quarter worth approximately $1,651,137,000. Swedbank AB lifted its position in McKesson by 42.2% in the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after purchasing an additional 263,189 shares during the last quarter. SurgoCap Partners LP boosted its stake in shares of McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after purchasing an additional 184,106 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after purchasing an additional 183,590 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of McKesson by 32.9% in the third quarter. Wellington Management Group LLP now owns 618,984 shares of the company’s stock worth $478,190,000 after purchasing an additional 153,182 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 0.1%

Shares of MCK stock opened at $842.14 on Friday. The firm has a market capitalization of $98.60 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.38 and a beta of 0.31. The stock has a fifty day moving average of $771.33 and a 200 day moving average of $838.33. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the previous year, the firm earned $10.12 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a dividend of $0.82 per share. The ex-dividend date was Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is currently 8.53%.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% 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 have sold 28,748 shares of company stock worth $22,262,035 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MCK. UBS Group lifted their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. William Blair started coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Bank of America decreased their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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.