WCM Investment Management LLC Has $801.80 Million Stock Position in McKesson Corporation $MCK

WCM Investment Management LLC lowered its position in McKesson Corporation (NYSE:MCK) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 932,121 shares of the company’s stock after selling 11,950 shares during the period. McKesson accounts for about 1.8% of WCM Investment Management LLC’s holdings, making the stock its 20th biggest position. WCM Investment Management LLC’s holdings in McKesson were worth $801,801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after purchasing an additional 73,109 shares in the last quarter. State Street Corp increased its stake in McKesson by 0.5% during the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after purchasing an additional 29,660 shares in the last quarter. Geode Capital Management LLC raised its holdings in McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after buying an additional 25,082 shares during the last quarter. Franklin Resources Inc. raised its holdings in McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after buying an additional 144,633 shares during the last quarter. Finally, Norges Bank bought a new position in shares of McKesson in the fourth quarter valued at $1,651,137,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. William Blair initiated coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Barclays cut their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. UBS Group increased their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. dropped their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $960.53.

McKesson Stock Up 0.1%

Shares of NYSE MCK opened at $842.14 on Monday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The stock’s 50 day moving average price is $771.33 and its 200-day moving average price is $838.39. The company has a market capitalization of $98.60 billion, a PE ratio of 21.89, a PEG ratio of 1.38 and a beta of 0.31.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion during 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%.McKesson’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued 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 of this dividend was Monday, June 1st. McKesson’s payout ratio is 8.53%.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the executive vice president owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 have sold a total of 28,748 shares of company stock worth $22,262,035 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.