MidFirst Bank Makes New $596,000 Investment in McKesson Corporation $MCK

MidFirst Bank purchased a new stake in McKesson Corporation (NYSE:MCK) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 726 shares of the company’s stock, valued at approximately $596,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. GGM Financials LLC bought a new position in shares of McKesson during the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson during the 4th quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in McKesson during the 4th quarter worth $26,000. State of Wyoming bought a new position in McKesson during the 2nd quarter worth $29,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in McKesson in the third quarter worth $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.1%

Shares of McKesson stock opened at $750.23 on Friday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The firm has a market capitalization of $87.84 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.24 and a beta of 0.31. The stock’s fifty day moving average is $787.94 and its 200-day moving average is $842.41.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share 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 firm had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter last year, the business posted $10.12 EPS. McKesson’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. Analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. 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 8.53%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Citigroup lowered their target price on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Barclays lowered their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insiders Place Their Bets

In related news, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 20,285 shares of company stock worth $15,546,137. 0.08% of the stock is currently owned by corporate insiders.

McKesson News Roundup

Here are the key news stories impacting McKesson this week:

• Negative Sentiment: CEO Brian Tyler sold 8,463 shares at an average price of $775.13 under a pre-arranged 10b5-1 plan. Even though the sale was planned, insider selling can still weigh on investor sentiment. Article Title
• Neutral Sentiment: McKesson continues to get attention for its Medical-Surgical Solutions carve-out and new financing tied to that unit, which investors may be reassessing after a strong earnings report and upbeat FY2027 guidance. Article Title
• Neutral Sentiment: The company recently announced a fiscal 2024 fourth-quarter earnings release date, a routine event that does not appear to be a major market driver on its own. Article Title

About McKesson

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.