Global Retirement Partners LLC Boosts Stake in McKesson Corporation $MCK

Global Retirement Partners LLC grew its position in shares of McKesson Corporation (NYSE:MCK) by 51.6% in the 4th quarter, HoldingsChannel reports. The firm owned 4,400 shares of the company’s stock after acquiring an additional 1,497 shares during the quarter. Global Retirement Partners LLC’s holdings in McKesson were worth $3,609,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GGM Financials LLC bought a new stake in McKesson during the third quarter worth about $25,000. State of Wyoming bought a new stake in McKesson during the second quarter worth about $29,000. Hopwood Financial Services Inc. bought a new stake in McKesson during the third quarter worth about $31,000. Vermillion & White Wealth Management Group LLC bought a new stake in McKesson during the third quarter worth about $33,000. Finally, Board of the Pension Protection Fund bought a new stake in McKesson during the fourth quarter worth about $33,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Barclays lifted their price target on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Citigroup dropped their price target on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, Raymond James Financial set a $970.00 price target on McKesson in a research note on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $968.87.

McKesson Trading Down 0.2%

NYSE MCK opened at $765.30 on Friday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The stock has a 50-day moving average of $838.23 and a 200-day moving average of $855.53. The firm has a market cap of $91.99 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.14 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 analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the previous year, the company posted $10.12 EPS. McKesson’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. As a group, equities research analysts forecast that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 2,725 shares of the business’s 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 completion of the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. The trade was a 45.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

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.