Geode Capital Management LLC Has $2.33 Billion Stock Holdings in McKesson Corporation $MCK

Geode Capital Management LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,857,344 shares of the company’s stock after buying an additional 25,082 shares during the quarter. Geode Capital Management LLC’s holdings in McKesson were worth $2,333,520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. J.W. Cole Advisors Inc. increased its stake in shares of McKesson by 35.3% during the third quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock worth $3,931,000 after purchasing an additional 1,329 shares during the period. Cullen Investment Group LTD. increased its stake in shares of McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after purchasing an additional 3,952 shares during the period. Private Wealth Partners LLC increased its stake in McKesson by 5.6% during the 3rd quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock worth $24,598,000 after acquiring an additional 1,682 shares during the period. Envestnet Asset Management Inc. increased its stake in McKesson by 12.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock worth $255,438,000 after acquiring an additional 36,451 shares during the period. Finally, AlphaQuest LLC increased its stake in McKesson by 91.2% during the 3rd quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock worth $1,365,000 after acquiring an additional 843 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.2%

NYSE MCK opened at $755.86 on Thursday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The company has a market cap of $90.85 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 1.12 and a beta of 0.35. The business’s fifty day moving average is $827.20 and its 200 day moving average is $853.88.

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

McKesson Announces Dividend

The firm 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 is Monday, June 1st. McKesson’s payout ratio is presently 8.53%.

Insider Buying and Selling

In other news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 sold a total of 8,663 shares of company stock worth $7,217,102 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MCK shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Barclays raised their price objective on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Raymond James Financial set a $970.00 price objective on McKesson in a research note on Thursday, March 5th. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company reduced their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $968.87.

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.