Arrowstreet Capital Limited Partnership Has $1.13 Billion Position in McKesson Corporation $MCK

Arrowstreet Capital Limited Partnership lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 6.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,376,276 shares of the company’s stock after buying an additional 87,513 shares during the quarter. McKesson comprises about 0.7% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 22nd largest holding. Arrowstreet Capital Limited Partnership’s holdings in McKesson were worth $1,128,945,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. GGM Financials LLC acquired a new stake in shares of McKesson during the 3rd quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in shares of McKesson during the 4th quarter worth about $26,000. State of Wyoming acquired a new stake in shares of McKesson during the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of McKesson during the 3rd quarter worth about $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of McKesson during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.4%

MCK stock opened at $783.88 on Friday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm has a market cap of $94.22 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.29 and a beta of 0.31. The company’s 50-day moving average price is $798.10 and its two-hundred day moving average price is $846.35.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts predict that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Insider Buying and Selling at McKesson

In other news, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’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 transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. This trade 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 11,822 shares of company stock valued at $8,986,212 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on MCK shares. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Wells Fargo & Company dropped their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $960.53.

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.