Whittier Trust Co. of Nevada Inc. Purchases 2,665 Shares of McKesson Corporation $MCK

Whittier Trust Co. of Nevada Inc. raised its position in McKesson Corporation (NYSE:MCK) by 13.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 22,454 shares of the company’s stock after purchasing an additional 2,665 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in McKesson were worth $19,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. acquired a new position in shares of McKesson in the fourth quarter valued at about $26,000. State of Wyoming acquired a new position in shares of McKesson in the second quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC bought a new position in McKesson during the third quarter worth about $33,000. Finally, Board of the Pension Protection Fund bought a new position in McKesson during the fourth quarter worth about $33,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.0%

MCK stock opened at $786.17 on Monday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The business has a 50-day simple moving average of $769.23 and a 200 day simple moving average of $839.09. The company has a market cap of $92.05 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31.

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, topping 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 firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the prior year, the company posted $10.12 earnings per share. The business’s revenue for the quarter 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, analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a dividend of $0.82 per share. The ex-dividend date was 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%.

Insider Activity

In other McKesson news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction on 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 directly owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The transaction 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. This represents a 17.39% decrease in their position. 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 have sold 20,285 shares of company stock worth $15,546,137. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. UBS Group boosted their price target on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company reduced their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $960.53.

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.