Rathbones Group PLC Decreases Holdings in McKesson Corporation $MCK

Rathbones Group PLC lowered its position in McKesson Corporation (NYSE:MCK) by 59.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,680 shares of the company’s stock after selling 24,495 shares during the period. Rathbones Group PLC’s holdings in McKesson were worth $14,434,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson in the 4th quarter worth about $25,000. Swiss RE Ltd. purchased a new position in McKesson during the 4th quarter valued at about $26,000. State of Wyoming purchased a new position in McKesson during the 2nd quarter valued at about $29,000. Kingdom Financial Group LLC. acquired a new position in McKesson during the fourth quarter worth about $33,000. Finally, Birchwood Financial Partners Inc. acquired a new position in McKesson during the fourth quarter worth about $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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 completion of the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $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. Insiders have sold 28,748 shares of company stock worth $22,262,035 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several research reports. Bank of America lowered their price target on shares of 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. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Barclays lowered 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. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $962.67.

McKesson Price Performance

Shares of NYSE MCK opened at $825.00 on Tuesday. The company has a 50-day simple moving average of $791.90 and a 200-day simple moving average of $840.34. The company has a market cap of $96.59 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.30. 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 data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.5%. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s payout ratio is 8.53%.

McKesson Company 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.