Harel Insurance Investments & Financial Services Ltd. Has $6.12 Million Stake in McKesson Corporation $MCK

Harel Insurance Investments & Financial Services Ltd. lowered its holdings in McKesson Corporation (NYSE:MCK) by 11.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,933 shares of the company’s stock after selling 993 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in McKesson were worth $6,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Solstein Capital LLC increased its position in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after acquiring an additional 24 shares during the last quarter. State of Wyoming acquired a new position in shares of McKesson during the 2nd quarter worth approximately $29,000. GFG Capital LLC acquired a new position in shares of McKesson during the 2nd quarter worth approximately $30,000. Delos Wealth Advisors LLC bought a new stake in shares of McKesson during the 2nd quarter worth approximately $35,000. Finally, Abound Wealth Management boosted its holdings in shares of McKesson by 104.3% in the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after buying an additional 24 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MCK shares. Barclays began coverage on shares of McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 price target on the stock. Morgan Stanley upped their target price on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Bank of America upped their price objective on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $895.79.

McKesson Stock Down 0.5%

McKesson stock opened at $840.29 on Friday. McKesson Corporation has a twelve month low of $570.51 and a twelve month high of $895.58. The stock has a market cap of $103.72 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.38 and a beta of 0.41. The company’s 50-day moving average price is $833.47 and its two-hundred day moving average price is $766.45.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.07 earnings per share. Equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.08% of the company’s stock.

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.