Harbour Investments Inc. Purchases 3,972 Shares of McKesson Corporation $MCK

by · The Cerbat Gem

Harbour Investments Inc. lifted its position in McKesson Corporation (NYSE:MCK – Free Report) by 278.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,396 shares of the company’s stock after buying an additional 3,972 shares during the quarter. Harbour Investments Inc.’s holdings in McKesson were worth $4,426,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. J.W. Cole Advisors Inc. grew its stake in shares of McKesson by 35.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock valued at $3,931,000 after buying an additional 1,329 shares in the last quarter. Cullen Investment Group LTD. boosted its position in McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after purchasing an additional 3,952 shares during the period. Private Wealth Partners LLC boosted its position in McKesson by 5.6% during the third quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock worth $24,598,000 after purchasing an additional 1,682 shares during the period. Envestnet Asset Management Inc. boosted its position in McKesson by 12.4% during the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock worth $255,438,000 after purchasing an additional 36,451 shares during the period. Finally, AlphaQuest LLC boosted its position in McKesson by 91.2% during the third quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock worth $1,365,000 after purchasing an additional 843 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCK. Barclays upped their target price on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Raymond James Financial set a $970.00 target price on McKesson in a research report on Thursday, March 5th. Finally, TD Cowen upped their target price on McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $968.87.

View Our Latest Stock Analysis on MCK

McKesson Trading Down 1.3%

MCK opened at $756.11 on Wednesday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The stock has a market capitalization of $90.89 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 1.14 and a beta of 0.35. The business has a 50 day moving average of $830.95 and a 200-day moving average of $854.59.

McKesson (NYSE:MCK – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $101.35 billion. During the same period in the prior year, the business earned $10.12 earnings per share. McKesson’s revenue for the quarter 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 analysts predict that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is currently 8.53%.

Insider Transactions at McKesson

In other McKesson news, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total value of $2,697,750.00. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $3,214,530. The trade was a 45.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

McKesson Profile

(Free Report)

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.

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