McKesson Corporation $MCK Holdings Reduced by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. reduced its holdings in McKesson Corporation (NYSE:MCK) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,288 shares of the company’s stock after selling 809 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in McKesson were worth $8,040,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MCK. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson in the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in McKesson during the fourth quarter worth approximately $26,000. State of Wyoming bought a new stake in McKesson during the second quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in McKesson in the third quarter worth approximately $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in McKesson in the fourth quarter worth approximately $33,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. Bank of America cut their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Citigroup cut their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. UBS Group raised their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $960.53.

McKesson Stock Performance

McKesson stock opened at $797.33 on Thursday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm has a market capitalization of $93.35 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 1.32 and a beta of 0.31. The company has a 50 day moving average price of $767.45 and a 200 day moving average price of $838.22.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company 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 business earned $10.12 EPS. The company’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% 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. In the last three months, insiders have sold 28,748 shares of company stock valued at $22,262,035. 0.06% of the stock is owned by company insiders.

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.