N10 Assets LLC Acquires New Holdings in McKesson Corporation $MCK

N10 Assets LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,516 shares of the company’s stock, valued at approximately $5,679,000. McKesson makes up about 2.5% of N10 Assets LLC’s portfolio, making the stock its 19th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horizon Investments LLC grew its stake in shares of McKesson by 125.4% during the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after acquiring an additional 4,828 shares in the last quarter. Walter Public Investments Inc. bought a new stake in shares of McKesson in the fourth quarter worth $6,538,000. Summit Global Investments bought a new stake in shares of McKesson in the second quarter worth $1,159,000. One Wealth Advisors LLC acquired a new position in McKesson during the second quarter worth $1,494,000. Finally, Artemis Investment Management LLP boosted its holdings in McKesson by 149.9% during the fourth quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock worth $9,574,000 after purchasing an additional 7,000 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCK has been the subject of a number of recent research reports. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a research note on Thursday, August 6th. UBS Group lifted their target price on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company upped their target price on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Citigroup increased their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Barclays raised their price target on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 23,111 shares of company stock valued at $18,011,274. 0.06% of the stock is owned by insiders.

McKesson Price Performance

Shares of MCK opened at $890.20 on Friday. The company has a market cap of $103.79 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30. The firm has a 50-day moving average of $830.40 and a 200-day moving average of $843.76. McKesson Corporation has a one year low of $677.28 and a one year high of $999.00.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period last year, the business posted $8.26 EPS. McKesson’s revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts expect that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 8.78%.

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.