Russell Investments Group Ltd. Reduces Stock Holdings in McKesson Corporation $MCK

Russell Investments Group Ltd. lessened its stake in shares of McKesson Corporation (NYSE:MCK) by 15.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 272,418 shares of the company’s stock after selling 48,757 shares during the quarter. Russell Investments Group Ltd.’s holdings in McKesson were worth $223,755,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC raised its stake in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares in the last quarter. Caxton Associates LLP acquired a new position in McKesson in the first quarter valued at $233,000. Sivia Capital Partners LLC grew its holdings in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after purchasing an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of McKesson in the 2nd quarter valued at about $166,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCK shares. William Blair started coverage on McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. Raymond James Financial set a $970.00 price objective on McKesson in a report on Thursday, March 5th. Citigroup cut their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Barclays decreased their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Finally, Leerink Partners restated an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

McKesson Stock Up 0.9%

NYSE MCK opened at $786.55 on Wednesday. The stock has a market capitalization of $92.09 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.28 and a beta of 0.31. The firm has a 50-day moving average price of $794.00 and a 200 day moving average price of $844.72. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the previous year, the firm earned $10.12 EPS. The business’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 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 presently 8.53%.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,822 shares of company stock worth $8,986,212 in the last ninety days. 0.08% of the stock is currently owned by insiders.

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.