N10 Assets LLC Acquires 2,099 Shares of McKesson Corporation $MCK

N10 Assets LLC boosted its holdings in McKesson Corporation (NYSE:MCK) by 27.9% during the third quarter, Holdings Channel.com reports. The fund owned 9,615 shares of the company’s stock after acquiring an additional 2,099 shares during the period. McKesson accounts for 3.0% of N10 Assets LLC’s investment portfolio, making the stock its 17th largest holding. N10 Assets LLC’s holdings in McKesson were worth $8,209,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Delos Wealth Advisors LLC acquired a new position in McKesson during the second quarter worth about $27,000. Clearstead Trust LLC purchased a new stake in shares of McKesson in the second quarter valued at about $37,000. GK Wealth Management LLC purchased a new stake in shares of McKesson in the third quarter valued at about $38,000. Bell Investment Advisors Inc acquired a new stake in shares of McKesson in the second quarter valued at approximately $39,000. Finally, Security National Bank of SO Dak acquired a new stake in shares of McKesson in the second quarter valued at approximately $39,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

MCK traded up $9.68 during trading on Wednesday, hitting $971.56. The company’s stock had a trading volume of 233,123 shares, compared to its average volume of 930,378. The stock has a market cap of $113.27 billion, a PE ratio of 26.00, a PEG ratio of 2.00 and a beta of 0.30. The firm’s 50 day moving average price is $890.43 and its 200-day moving average price is $834.56. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter last year, the business earned $8.26 EPS. McKesson’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities analysts anticipate that McKesson Corporation will post 44.73 earnings per share for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were issued a $0.94 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent research reports. UBS Group upped their target price on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Morgan Stanley set a $977.00 price target on McKesson in a report on Tuesday, October 6th. Barclays boosted their price target on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, TD Cowen upped their price objective on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $983.29.

Insider Buying and Selling

In other news, Director Bradley Lerman sold 301 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO B Jr sold 111 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at $464,445.45. This trade represents a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.06% of the stock is owned by corporate insiders.

About McKesson

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.