Ritholtz Wealth Management Acquires 887 Shares of McKesson Corporation $MCK

Ritholtz Wealth Management raised its holdings in McKesson Corporation (NYSE:MCK) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,918 shares of the company’s stock after acquiring an additional 887 shares during the period. Ritholtz Wealth Management’s holdings in McKesson were worth $12,737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nvwm LLC increased its position in shares of McKesson by 933.3% in the third quarter. Nvwm LLC now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Delos Wealth Advisors LLC purchased a new stake in McKesson in the second quarter valued at approximately $27,000. Trellis Wealth Advisors LLC bought a new stake in McKesson during the third quarter valued at approximately $32,000. GK Wealth Management LLC bought a new stake in McKesson during the third quarter valued at approximately $38,000. Finally, Curry Webb Wealth Management LLC purchased a new position in McKesson in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Trending Headlines about McKesson

Investors following MCK have been watching these headlines:

• Positive Sentiment: Coverage links McKesson’s new highs to pharmaceutical and GLP-1 sales, alongside institutional investor support. This points to sustained demand for the company’s distribution business. Sales of Pharmaceuticals, GLP-1s Send McKesson Shares to New Highs
• Positive Sentiment: McKesson reportedly raised its fiscal 2027 adjusted EPS outlook, a potential signal of confidence in future earnings. The article listing does not provide the revised forecast figures. McKesson stock raises fiscal 2027 adjusted EPS outlook
• Positive Sentiment: Zacks highlighted McKesson’s growth attributes as reasons investors may find the stock attractive. 3 Reasons Why Growth Investors Shouldn’t Overlook McKesson

Insider Buying and Selling

In related news, EVP Francisco Fraga sold 650 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $1,102.96, for a total transaction of $716,924.00. Following the transaction, the executive vice president owned 4,414 shares of the company’s stock, valued at approximately $4,868,465.44. This trade represents a 12.84% decrease in their position. The transaction 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 111 shares of McKesson stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares in the company, valued at approximately $464,445.45. The trade was a 17.56% 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. Over the last 90 days, insiders sold 2,161 shares of company stock valued at $2,242,515. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. TD Cowen increased their price target on shares of McKesson from $1,006.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Morgan Stanley set a $977.00 price objective on shares of McKesson in a research report on Tuesday, October 6th. Evercore reaffirmed an “outperform” rating and set a $950.00 price objective (down from $1,000.00) on shares of McKesson in a report on Thursday, August 6th. Mizuho upped their target price on shares of McKesson from $905.00 to $1,020.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 20th. Finally, Royal Bank Of Canada increased their target price on McKesson from $845.00 to $965.00 and gave the company a “sector perform” rating in a research note on Thursday, November 5th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $1,040.29.

McKesson Trading Down 0.2%

Shares of NYSE MCK opened at $1,080.76 on Thursday. The stock has a market cap of $124.79 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 1.83 and a beta of 0.27. McKesson Corporation has a 1-year low of $723.68 and a 1-year high of $1,121.50. The stock’s 50-day moving average is $948.83 and its 200 day moving average is $871.94.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.72 by $0.96. The business had revenue of $110.96 billion during the quarter, compared to analyst estimates of $109.90 billion. McKesson had a negative return on equity of 202.94% and a net margin of 1.12%. McKesson’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.86 earnings per share. On average, analysts forecast that McKesson Corporation will post 46.16 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, December 1st. McKesson’s payout ratio is presently 9.67%.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.