Northbridge Financial Group LLC Makes New Investment in McKesson Corporation $MCK

Northbridge Financial Group LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 768 shares of the company’s stock, valued at approximately $630,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in McKesson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after purchasing an additional 73,109 shares in the last quarter. State Street Corp increased its holdings in McKesson by 0.9% during the 3rd quarter. State Street Corp now owns 5,750,519 shares of the company’s stock worth $4,447,110,000 after purchasing an additional 51,510 shares in the last quarter. Franklin Resources Inc. increased its holdings in McKesson by 3.5% during the 3rd quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock worth $2,071,428,000 after purchasing an additional 90,948 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of McKesson by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after acquiring an additional 126,684 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of McKesson by 0.4% during the 3rd quarter. Northern Trust Corp now owns 1,532,856 shares of the company’s stock worth $1,184,193,000 after acquiring an additional 6,613 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the transaction, the director owned 301 shares in the company, valued at approximately $282,900.87. This trade represents a 53.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $990.00, for a total value of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $3,214,530. The trade was a 45.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is currently owned by company insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $762.50 on Wednesday. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The business has a 50-day moving average of $848.60 and a 200-day moving average of $857.00. The stock has a market capitalization of $91.65 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.16 and a beta of 0.35.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating 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 business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the business earned $10.12 earnings per share. The firm’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, sell-side analysts expect that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MCK. JPMorgan Chase & Co. decreased their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. TD Cowen raised their price target on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Citigroup decreased their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. William Blair began coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Finally, Bank of America decreased their price objective 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. Fourteen 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 stock has an average rating of “Moderate Buy” and a consensus price target of $968.87.

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.