Clearstead Advisors LLC Increases Holdings in McKesson Corporation $MCK

Clearstead Advisors LLC increased its stake in shares of McKesson Corporation (NYSE:MCK) by 21.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,731 shares of the company’s stock after buying an additional 669 shares during the quarter. Clearstead Advisors LLC’s holdings in McKesson were worth $3,060,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MCK. GGM Financials LLC purchased a new position in McKesson during the third quarter worth approximately $25,000. State of Wyoming purchased a new position in McKesson during the second quarter worth approximately $29,000. Hopwood Financial Services Inc. purchased a new position in McKesson during the third quarter worth approximately $31,000. Vermillion & White Wealth Management Group LLC purchased a new position in McKesson during the third quarter worth approximately $33,000. Finally, Board of the Pension Protection Fund purchased a new position in McKesson during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction on 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 completion of the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

McKesson Stock Down 1.3%

NYSE:MCK opened at $756.11 on Wednesday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The company has a market capitalization of $90.89 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.14 and a beta of 0.35. The stock’s fifty day moving average is $830.95 and its two-hundred day moving average is $854.59.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is presently 8.53%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MCK shares. Raymond James Financial set a $970.00 price objective on McKesson in a research report on Thursday, March 5th. Mizuho lifted their price objective on McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. UBS Group lifted their target price on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Finally, Wells Fargo & Company reduced their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $968.87.

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.