McKesson Corporation $MCK Shares Sold by Zhang Financial LLC

Zhang Financial LLC lowered its stake in shares of McKesson Corporation (NYSE:MCK) by 29.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,049 shares of the company’s stock after selling 836 shares during the quarter. Zhang Financial LLC’s holdings in McKesson were worth $1,681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in MCK. Swedbank AB grew its position in shares of McKesson by 42.2% during the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after buying an additional 263,189 shares in the last quarter. SurgoCap Partners LP grew its position in shares of McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after buying an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after buying an additional 183,590 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of McKesson during the third quarter worth approximately $135,352,000. Finally, Danske Bank A S acquired a new stake in shares of McKesson during the third quarter worth approximately $127,487,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 2.0%

Shares of NYSE MCK opened at $741.47 on Friday. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm’s 50-day simple moving average is $819.93 and its 200 day simple moving average is $852.44. The stock has a market cap of $89.13 billion, a P/E ratio of 19.27, a P/E/G ratio of 1.13 and a beta of 0.35.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period in the previous year, the business earned $10.12 earnings per share. The company’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 anticipate that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm 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 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 8.53%.

Insider Activity

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the sale, the executive vice president directly owned 3,090 shares in the company, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 8,663 shares of company stock worth $7,217,102. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms 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 report on Friday, May 8th. Citigroup decreased their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. TD Cowen lifted their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $968.87.

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.