McKesson Corporation $MCK Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 45.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,375 shares of the company’s stock after selling 3,650 shares during the quarter. Cumberland Partners Ltd’s holdings in McKesson were worth $3,786,000 at the end of the most recent quarter.

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

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction 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 sale, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The transaction was disclosed in a filing 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, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,748 shares of company stock valued at $22,262,035 in the last quarter. Company insiders own 0.06% of the company’s stock.

McKesson Trading Up 2.0%

MCK stock opened at $840.76 on Friday. The firm’s 50-day moving average is $780.04 and its two-hundred day moving average is $838.46. The company has a market capitalization of $98.43 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 1.36 and a beta of 0.31. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.

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

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is 9.77%.

Analysts Set New Price Targets

Several research firms have commented on MCK. Bank of America decreased their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Citigroup boosted their price objective on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $962.67.

Key Stories Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson boosted its quarterly dividend to $0.94 per share from $0.82, signaling management confidence in cash flow and returning more capital to shareholders. McKesson Raises Quarterly Dividend by 15%
• Positive Sentiment: Shareholders backed the board, auditors, and executive compensation at the annual meeting, reducing governance uncertainty. McKesson Shareholders Back Board, Auditors, and Executive Pay
• Neutral Sentiment: Recent commentary from analysts has been mixed, with one piece noting conflicting views on McKesson and other healthcare names, which may keep sentiment balanced in the near term. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Neutral Sentiment: TD Cowen reportedly lowered expectations for McKesson’s stock price, adding a cautionary note despite the company’s strong operational backdrop. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

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.