McKesson Corporation $MCK Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,779 shares of the company’s stock after selling 864 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in McKesson were worth $27,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in McKesson during the 2nd quarter valued at approximately $8,156,743,000. Norges Bank acquired a new position in shares of McKesson in the 4th quarter valued at approximately $1,651,137,000. Bank of America Corp DE purchased a new position in shares of McKesson during the 2nd quarter valued at approximately $998,896,000. Legal & General Group Plc purchased a new position in shares of McKesson during the 2nd quarter valued at approximately $656,566,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of McKesson during the second quarter worth approximately $651,462,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $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 a total of 22,289 shares of company stock valued at $17,406,854 in the last quarter. Company insiders own 0.06% of the company’s stock.

McKesson Stock Down 0.9%

Shares of NYSE MCK opened at $885.36 on Tuesday. The firm’s 50-day moving average price is $836.11 and its two-hundred day moving average price is $842.95. McKesson Corporation has a 52-week low of $679.65 and a 52-week high of $999.00. The stock has a market capitalization of $103.22 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.76 and a beta of 0.30.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the firm posted $8.26 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities research analysts expect that McKesson Corporation will post 44.65 earnings per share for the current 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 issued a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 8.78%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MCK. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. TD Cowen boosted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. UBS Group increased their price target on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Finally, Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $973.44.

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.