McKesson Corporation $MCK Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 237,332 shares of the company’s stock after selling 7,082 shares during the period. PNC Financial Services Group Inc.’s holdings in McKesson were worth $205,378,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson during the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in shares of McKesson in the 4th quarter valued at $26,000. State of Wyoming acquired a new stake in shares of McKesson in the 2nd quarter valued at $29,000. Kingdom Financial Group LLC. purchased a new stake in shares of McKesson during the 4th quarter worth $33,000. Finally, Birchwood Financial Partners Inc. purchased a new stake in shares of McKesson during the 4th quarter worth $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 1.8%

Shares of McKesson stock opened at $813.95 on Thursday. The company has a fifty day simple moving average of $776.87 and a 200-day simple moving average of $838.43. The stock has a market cap of $95.30 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 1.36 and a beta of 0.31. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly 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 firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period last 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 forecast that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s payout ratio is presently 8.53%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays dropped their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Bank of America decreased their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. William Blair began coverage on McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. JPMorgan Chase & Co. dropped their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Citigroup cut 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. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $959.00.

McKesson News Roundup

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson raised its quarterly dividend by about 15% to $0.94 per share, signaling confidence in cash flow and capital returns. The increase was announced alongside a new payment schedule for shareholders of record on September 1. McKesson Corporation Raises Quarterly Dividend by 15% to $0.94 Per Share
• Positive Sentiment: Analysts remain constructive overall: TD Cowen lowered its price target slightly to $989 from $1,012 but kept a buy rating, implying meaningful upside from current levels. TD Cowen price target update via Benzinga
• Neutral Sentiment: Recent Zacks articles note that McKesson is drawing investor attention and is still viewed as a strong growth stock, but these pieces are largely commentary rather than new fundamental catalysts. Why McKesson Fell More Than Broader Market
• Neutral Sentiment: Other recent posts focus on stock performance over time and whether MCK is a buy now, but they do not appear to add a major new operational catalyst. Is Trending Stock McKesson Corporation (MCK) a Buy Now?
• Negative Sentiment: McKesson has been declining more than the broader market in recent sessions, reflecting near-term selling pressure even after strong longer-term fundamentals. Here’s Why McKesson (MCK) Fell More Than Broader Market

Insider Transactions at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at $1,667,592.36. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 that occurred on 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 transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their position. 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. Insiders have sold a total of 28,748 shares of company stock worth $22,262,035 over the last three months. 0.06% of the stock is currently owned by company insiders.

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.