Arrow Financial Corp Invests $814,000 in McKesson Corporation $MCK

Arrow Financial Corp bought a new position in shares of McKesson Corporation (NYSE:MCK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 992 shares of the company’s stock, valued at approximately $814,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Tucker Asset Management LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $71,000. Mission Wealth Management LP boosted its holdings in shares of McKesson by 2.1% during the 4th quarter. Mission Wealth Management LP now owns 2,032 shares of the company’s stock worth $1,667,000 after purchasing an additional 41 shares during the last quarter. RiverFront Investment Group LLC boosted its holdings in shares of McKesson by 315.1% during the 4th quarter. RiverFront Investment Group LLC now owns 1,623 shares of the company’s stock worth $1,331,000 after purchasing an additional 1,232 shares during the last quarter. Sapient Capital LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $465,000. Finally, Chase Investment Counsel Corp boosted its holdings in shares of McKesson by 2.6% during the 4th quarter. Chase Investment Counsel Corp now owns 6,423 shares of the company’s stock worth $5,268,000 after purchasing an additional 162 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

MCK opened at $759.82 on Monday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The stock has a market capitalization of $91.33 billion, a PE ratio of 19.75, a P/E/G ratio of 1.13 and a beta of 0.35. The business’s 50 day moving average price is $854.83 and its 200 day moving average price is $857.54.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 firm had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period in the prior year, the firm posted $10.12 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts forecast that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.82 dividend. 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 dividend payout ratio is currently 8.53%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 190 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $945.00, for a total transaction of $179,550.00. Following the transaction, the executive vice president directly owned 2,989 shares in the company, valued at $2,824,605. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Martinez sold 349 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total value of $328,014.63. Following the transaction, the director owned 301 shares in the company, valued at $282,900.87. This trade represents a 53.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,264 shares of company stock worth $3,205,315 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MCK shares. William Blair started coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Weiss Ratings restated a “buy (b+)” rating on shares of McKesson in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Wells Fargo & Company decreased their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Finally, Bank of America decreased their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $968.87.

About McKesson

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.