McKesson Corporation $MCK Shares Purchased by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. boosted its position in McKesson Corporation (NYSE:MCK) by 27.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,097 shares of the company’s stock after acquiring an additional 2,164 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in McKesson were worth $8,283,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its holdings in McKesson by 139.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 460 shares of the company’s stock worth $377,000 after buying an additional 268 shares in the last quarter. Garner Asset Management Corp bought a new stake in shares of McKesson in the 4th quarter worth about $41,000. MMA Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter worth about $486,000. Nicholas Hoffman & Company LLC. increased its position in shares of McKesson by 4.0% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 1,600 shares of the company’s stock worth $1,312,000 after purchasing an additional 62 shares during the last quarter. Finally, Fairfield Financial Advisors LTD increased its position in shares of McKesson by 10.2% in the 4th quarter. Fairfield Financial Advisors LTD now owns 4,938 shares of the company’s stock worth $4,050,000 after purchasing an additional 456 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $955.00, for a total value of $313,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 190 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total transaction of $179,550.00. Following the sale, the executive vice president directly owned 2,989 shares of the company’s stock, valued at approximately $2,824,605. This represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,592 shares of company stock valued at $3,518,555. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $983.00 to $1,107.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Weiss Ratings downgraded shares of McKesson from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. TD Cowen boosted their target price on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Finally, UBS Group lowered their price objective on shares of McKesson from $1,012.00 to $1,000.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Fourteen research 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 currently has a consensus rating of “Moderate Buy” and an average price target of $972.27.

McKesson Stock Down 0.8%

McKesson stock opened at $800.99 on Wednesday. The firm has a 50-day moving average price of $891.94 and a two-hundred day moving average price of $860.41. The firm has a market capitalization of $98.11 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.17 and a beta of 0.35. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.19 by $0.15. The firm had revenue of $106.16 billion during the quarter, compared to analyst estimates of $105.98 billion. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. McKesson’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $8.03 EPS. Research analysts expect that McKesson Corporation will post 39.02 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is currently 9.43%.

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.