Marks Group Wealth Management Inc Buys Shares of 742 McKesson Corporation $MCK

Marks Group Wealth Management Inc bought a new stake in McKesson Corporation (NYSE:MCK) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 742 shares of the company’s stock, valued at approximately $609,000.

Other large investors have also recently modified their holdings of the company. GGM Financials LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at $25,000. State of Wyoming acquired a new stake in shares of McKesson in the 2nd quarter valued at $29,000. Hopwood Financial Services Inc. acquired a new stake in shares of McKesson in the 3rd quarter valued at $31,000. Board of the Pension Protection Fund acquired a new stake in shares of McKesson in the 4th quarter valued at $33,000. Finally, Kingdom Financial Group LLC. acquired a new stake in shares of McKesson in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Michele Lau sold 3,550 shares of McKesson 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 transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson 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 completion of the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% 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 ninety days, insiders sold 6,893 shares of company stock valued at $5,225,385. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Up 2.2%

Shares of NYSE:MCK opened at $783.71 on Wednesday. The firm has a market cap of $94.20 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.26 and a beta of 0.31. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The business has a fifty day simple moving average of $802.84 and a 200 day simple moving average of $847.76.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.McKesson’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCK. Leerink Partners reissued an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a report on Thursday, March 5th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. UBS Group raised their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wells Fargo & Company cut their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Finally, William Blair began coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $968.87.

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.