N10 Assets LLC Purchases Shares of 7,516 McKesson Corporation $MCK

N10 Assets LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,516 shares of the company’s stock, valued at approximately $5,679,000. McKesson comprises 2.5% of N10 Assets LLC’s portfolio, making the stock its 19th largest holding.

A number of other institutional investors also recently made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. bought a new position in shares of McKesson during the fourth quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in McKesson in the 4th quarter valued at $26,000. Delos Wealth Advisors LLC bought a new stake in McKesson in the 2nd quarter valued at $27,000. State of Wyoming acquired a new position in McKesson in the 2nd quarter valued at $29,000. Finally, Kingdom Financial Group LLC. acquired a new position in McKesson in the 4th quarter valued at $33,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. This represents a 17.39% decrease in their ownership of the stock. 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 three months, insiders sold 23,111 shares of company stock worth $18,011,274. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCK. Royal Bank Of Canada initiated coverage on McKesson in a report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 target price for the company. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a research report on Thursday, August 6th. JPMorgan Chase & Co. dropped 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. Finally, TD Cowen boosted their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $973.44.

McKesson Price Performance

McKesson stock opened at $890.20 on Friday. The firm has a market cap of $103.79 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30. The stock’s fifty day moving average price is $830.40 and its two-hundred day moving average price is $843.76. McKesson Corporation has a one year low of $677.28 and a one year high of $999.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is currently 8.78%.

McKesson Company 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.