Jupiter Asset Management Ltd. Has $83.21 Million Holdings in McKesson Corporation $MCK

Jupiter Asset Management Ltd. lifted its position in McKesson Corporation (NYSE:MCK) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 101,442 shares of the company’s stock after purchasing an additional 4,521 shares during the period. Jupiter Asset Management Ltd.’s holdings in McKesson were worth $83,212,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MCK. GGM Financials LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at approximately $25,000. State of Wyoming acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $29,000. Hopwood Financial Services Inc. acquired a new stake in shares of McKesson in the 3rd quarter valued at approximately $31,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of McKesson in the 4th quarter valued at approximately $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of analyst reports. Barclays increased their price target on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Citigroup cut their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Morgan Stanley reiterated an “overweight” rating and issued a $966.00 price target on shares of McKesson in a research report on Thursday, January 29th. JPMorgan Chase & Co. cut their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $968.87.

Insider Activity at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at $2,351,768.10. This trade represents a 43.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly 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. Insiders have sold a total of 8,663 shares of company stock valued at $7,217,102 over the last ninety days. Company insiders own 0.08% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $757.80 on Friday. The business has a 50 day simple moving average of $823.51 and a 200 day simple moving average of $853.22. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The stock has a market cap of $91.09 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.13 and a beta of 0.35.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same period in the prior year, the business earned $10.12 EPS. McKesson’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts predict that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

The firm 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 dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

McKesson 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.