Savant Capital LLC Sells 9,500 Shares of McKesson Corporation $MCK

Savant Capital LLC lowered its position in McKesson Corporation (NYSE:MCK) by 47.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,510 shares of the company’s stock after selling 9,500 shares during the period. Savant Capital LLC’s holdings in McKesson were worth $8,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in McKesson by 7.4% in the fourth quarter. Intech Investment Management LLC now owns 39,486 shares of the company’s stock worth $32,390,000 after purchasing an additional 2,736 shares during the last quarter. Foundations Investment Advisors LLC increased its position in shares of McKesson by 26.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 2,956 shares of the company’s stock worth $2,424,000 after acquiring an additional 625 shares during the period. Baker Avenue Asset Management LP increased its position in shares of McKesson by 13.2% during the fourth quarter. Baker Avenue Asset Management LP now owns 967 shares of the company’s stock worth $793,000 after acquiring an additional 113 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the fourth quarter worth approximately $48,000. Finally, Kingsview Wealth Management LLC increased its position in shares of McKesson by 77.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 5,805 shares of the company’s stock worth $4,762,000 after acquiring an additional 2,527 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Raymond James Financial set a $970.00 target price on shares of McKesson in a research report on Thursday, March 5th. UBS Group raised their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. TD Cowen raised their target price on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. William Blair assumed coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $968.87.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction that occurred 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 in the company, valued at approximately $2,351,768.10. The trade was a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 8,663 shares of company stock worth $7,217,102. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Down 2.0%

Shares of MCK stock opened at $741.47 on Friday. The firm has a market cap of $89.13 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 1.13 and a beta of 0.35. The company’s 50 day moving average is $819.93 and its 200 day moving average is $852.44. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts anticipate that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued 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 presently 8.53%.

About McKesson

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.