SVB Wealth LLC Sells 1,171 Shares of McKesson Corporation $MCK

SVB Wealth LLC lowered its holdings in shares of McKesson Corporation (NYSE:MCK) by 66.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 585 shares of the company’s stock after selling 1,171 shares during the quarter. SVB Wealth LLC’s holdings in McKesson were worth $442,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Secure Asset Management LLC lifted its position in McKesson by 484.8% during the second quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock valued at $1,604,000 after acquiring an additional 1,760 shares during the last quarter. Summit Global Investments purchased a new position in McKesson in the second quarter worth $1,159,000. One Wealth Advisors LLC purchased a new position in McKesson in the second quarter worth $1,494,000. Walter Public Investments Inc. acquired a new position in shares of McKesson during the fourth quarter worth $6,538,000. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of McKesson by 1.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock valued at $84,809,000 after purchasing an additional 1,216 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK opened at $881.22 on Friday. McKesson Corporation has a fifty-two week low of $687.68 and a fifty-two week high of $999.00. The company has a fifty day moving average of $858.30 and a two-hundred day moving average of $840.99. The stock has a market capitalization of $102.74 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.77 and a beta of 0.30.

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

McKesson Increases Dividend

The business also recently declared 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 represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is presently 10.06%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MCK. Citigroup increased their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. UBS Group boosted their price target on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. TD Cowen upped their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. This trade represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 17,338 shares of company stock worth $13,643,366. Company insiders own 0.06% of the company’s stock.

McKesson Company Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.