Unique Wealth LLC Decreases Stake in McKesson Corporation $MCK

Unique Wealth LLC reduced its holdings in shares of McKesson Corporation (NYSE:MCK) by 51.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,426 shares of the company’s stock after selling 1,513 shares during the quarter. Unique Wealth LLC’s holdings in McKesson were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. GGM Financials LLC bought a new position in McKesson during the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson in the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in McKesson in the 4th quarter worth approximately $26,000. State of Wyoming purchased a new stake in McKesson during the 2nd quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in McKesson during the 3rd quarter valued at $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of McKesson stock opened at $764.77 on Friday. The company’s fifty day simple moving average is $779.51 and its 200-day simple moving average is $840.82. The stock has a market capitalization of $89.54 billion, a PE ratio of 19.88, a P/E/G ratio of 1.26 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior 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. As a group, research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is presently 8.53%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MCK shares. William Blair started coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. UBS Group increased their target price on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. Raymond James Financial set a $970.00 target price on McKesson in a research report on Thursday, March 5th. Finally, Bank of America dropped their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. The trade was a 23.56% 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 three months, insiders have sold 20,285 shares of company stock worth $15,546,137. Corporate insiders own 0.06% of the company’s stock.

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.