McKesson Corporation $MCK Shares Purchased by LPL Financial LLC

LPL Financial LLC increased its position in shares of McKesson Corporation (NYSE:MCK) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,214 shares of the company’s stock after acquiring an additional 12,174 shares during the period. LPL Financial LLC’s holdings in McKesson were worth $171,616,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GGM Financials LLC purchased a new stake in McKesson during the 3rd quarter worth about $25,000. State of Wyoming purchased a new stake in McKesson during the 2nd quarter worth about $29,000. Board of the Pension Protection Fund purchased a new stake in McKesson during the 4th quarter worth about $33,000. Kingdom Financial Group LLC. purchased a new stake in McKesson during the 4th quarter worth about $33,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in McKesson during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’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 transaction of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% 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. Insiders have sold 6,893 shares of company stock worth $5,225,385 in the last quarter. 0.08% of the stock is owned by insiders.

McKesson Stock Performance

MCK opened at $789.20 on Thursday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The company has a market cap of $94.86 billion, a P/E ratio of 20.51, a PEG ratio of 1.29 and a beta of 0.31. The business’s 50-day simple moving average is $801.42 and its 200-day simple moving average is $847.34.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid 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 is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCK. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Barclays dropped their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a report on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $960.53.

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.