Safe Harbor Fiduciary LLC Buys Shares of 1,548 McKesson Corporation $MCK

Safe Harbor Fiduciary LLC bought a new stake in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,548 shares of the company’s stock, valued at approximately $1,134,000. McKesson makes up 1.1% of Safe Harbor Fiduciary LLC’s portfolio, making the stock its 29th biggest holding.

Several other large investors have also recently made changes to their positions in the company. Solstein Capital LLC raised its stake in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the last quarter. Bank of Jackson Hole Trust grew its holdings in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares in the last quarter. GFG Capital LLC acquired a new stake in shares of McKesson in the second quarter valued at about $30,000. Saudi Central Bank purchased a new position in shares of McKesson in the first quarter worth about $34,000. Finally, Flaharty Asset Management LLC acquired a new position in McKesson during the first quarter worth about $39,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by insiders.

McKesson Trading Down 0.5%

NYSE MCK opened at $884.76 on Thursday. The stock has a fifty day simple moving average of $799.61 and a 200-day simple moving average of $738.51. The stock has a market cap of $109.20 billion, a PE ratio of 35.28, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $895.58.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.07 earnings per share. Research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is 10.21%.

Wall Street Analyst Weigh In

MCK has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Zacks Research cut McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group boosted their price objective on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. TD Cowen upped their target price on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Mizuho raised their target price on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $887.69.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.