Gateway Wealth Partners LLC Acquires 1,014 Shares of McKesson Corporation $MCK

Gateway Wealth Partners LLC increased its holdings in McKesson Corporation (NYSE:MCK) by 269.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,390 shares of the company’s stock after buying an additional 1,014 shares during the quarter. Gateway Wealth Partners LLC’s holdings in McKesson were worth $1,203,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MCK. Vanguard Group Inc. raised its position in McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after acquiring an additional 73,109 shares during the period. State Street Corp grew its position in shares of McKesson by 0.5% during the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after acquiring an additional 29,660 shares during the period. Geode Capital Management LLC grew its position in shares of McKesson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after acquiring an additional 25,082 shares during the period. Franklin Resources Inc. increased its stake in shares of McKesson by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after purchasing an additional 144,633 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of McKesson in the 4th quarter worth $1,651,137,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% 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. Also, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 28,748 shares of company stock worth $22,262,035 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

McKesson Trading Up 4.9%

Shares of MCK opened at $891.37 on Wednesday. The business’s 50 day moving average is $784.12 and its 200 day moving average is $839.21. The company has a market capitalization of $104.36 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.31. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

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

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 8.53%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MCK shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. decreased their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. William Blair began coverage on McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, Citigroup boosted their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $962.67.

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.