Chicago Partners Investment Group LLC Grows Position in McKesson Corporation $MCK

Chicago Partners Investment Group LLC lifted its position in McKesson Corporation (NYSE:MCK) by 52.2% during the 1st quarter, Holdings Channel reports. The firm owned 1,864 shares of the company’s stock after acquiring an additional 639 shares during the period. Chicago Partners Investment Group LLC’s holdings in McKesson were worth $1,546,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MCK. Cullen Investment Group LTD. raised its position in McKesson by 550.4% during the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after purchasing an additional 3,952 shares during the last quarter. Pensionfund Sabic bought a new stake in shares of McKesson in the 4th quarter worth approximately $1,887,000. Investment Research Partners LLC bought a new stake in shares of McKesson in the 3rd quarter worth approximately $1,303,000. Achmea Investment Management B.V. increased its stake in shares of McKesson by 7.5% during the third quarter. Achmea Investment Management B.V. now owns 61,287 shares of the company’s stock valued at $47,347,000 after buying an additional 4,260 shares during the period. Finally, Horizon Investments LLC increased its stake in shares of McKesson by 125.4% during the fourth quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock valued at $7,119,000 after buying an additional 4,828 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

NYSE:MCK opened at $802.80 on Wednesday. The firm has a market capitalization of $93.99 billion, a P/E ratio of 20.87, a PEG ratio of 1.34 and a beta of 0.31. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The company’s 50-day simple moving average is $766.34 and its 200 day simple moving average is $838.42.

McKesson (NYSE:MCK) last announced 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 net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter last year, the firm earned $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, equities research analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed 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. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s dividend payout ratio (DPR) is 8.53%.

Analyst Ratings Changes

A number of brokerages recently commented on MCK. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Citigroup reduced their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Bank of America decreased their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. 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. Finally, Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the sale, the executive vice president directly owned 3,090 shares in the company, valued at approximately $2,351,768.10. This represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,748 shares of company stock worth $22,262,035 over the last three months. 0.06% of the stock is owned by corporate insiders.

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.