Clark Capital Management Group Inc. Sells 29,066 Shares of McKesson Corporation $MCK

Clark Capital Management Group Inc. lowered its holdings in shares of McKesson Corporation (NYSE:MCK) by 24.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 91,736 shares of the company’s stock after selling 29,066 shares during the period. Clark Capital Management Group Inc.’s holdings in McKesson were worth $75,250,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Brighton Jones LLC increased its position in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares during the period. Caxton Associates LLP acquired a new stake in shares of McKesson during the first quarter worth $233,000. Sivia Capital Partners LLC increased its position in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the period. Treasurer of the State of North Carolina increased its position in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after buying an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of McKesson during the second quarter worth $166,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. William Blair assumed coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. JPMorgan Chase & Co. decreased their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Finally, Bank of America decreased their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $960.53.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% 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 three months, insiders have sold 11,822 shares of company stock valued at $8,986,212. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.9%

NYSE:MCK opened at $786.55 on Wednesday. The stock has a market capitalization of $92.09 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.28 and a beta of 0.31. The firm has a fifty day simple moving average of $794.00 and a two-hundred day simple moving average of $844.72. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

McKesson Company 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.