Northwestern Mutual Wealth Management Co. Cuts Holdings in McKesson Corporation $MCK

Northwestern Mutual Wealth Management Co. trimmed its position in McKesson Corporation (NYSE:MCK) by 6.1% in the second quarter, HoldingsChannel reports. The firm owned 9,723 shares of the company’s stock after selling 637 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in McKesson were worth $7,347,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new position in McKesson in the fourth quarter worth $26,000. Delos Wealth Advisors LLC bought a new position in McKesson in the 2nd quarter valued at $27,000. State of Wyoming bought a new position in McKesson in the 2nd quarter valued at $29,000. Finally, Kingdom Financial Group LLC. purchased a new stake in shares of McKesson during the 4th quarter valued at $33,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $927.16 on Thursday. McKesson Corporation has a fifty-two week low of $682.35 and a fifty-two week high of $999.00. The business has a 50-day moving average of $842.13 and a 200 day moving average of $842.72. The firm has a market cap of $108.10 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.80 and a beta of 0.30.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 10.06%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada began coverage on shares of McKesson in a report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 price objective for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. UBS Group increased their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Activity at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% 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. In the last ninety days, insiders sold 22,289 shares of company stock worth $17,406,854. Corporate insiders own 0.06% 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.