Northwestern Mutual Wealth Management Co. Grows Stock Position in McKesson Corporation $MCK

Northwestern Mutual Wealth Management Co. boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 403.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 43,459 shares of the company’s stock after buying an additional 34,820 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in McKesson were worth $35,649,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCK. J.W. Cole Advisors Inc. increased its stake in McKesson by 35.3% in the third quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock worth $3,931,000 after purchasing an additional 1,329 shares during the period. Cullen Investment Group LTD. increased its stake in McKesson by 550.4% in the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after purchasing an additional 3,952 shares during the period. Private Wealth Partners LLC increased its stake in McKesson by 5.6% in the third quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock worth $24,598,000 after purchasing an additional 1,682 shares during the period. Envestnet Asset Management Inc. increased its stake in McKesson by 12.4% in the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock worth $255,438,000 after purchasing an additional 36,451 shares during the period. Finally, AlphaQuest LLC increased its stake in McKesson by 91.2% in the third quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock worth $1,365,000 after purchasing an additional 843 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, EVP Michele Lau sold 2,725 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $3,214,530. This trade represents a 45.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maria Martinez sold 349 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the sale, the director directly owned 301 shares in the company, valued at approximately $282,900.87. The trade was a 53.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $966.00 price target on shares of McKesson in a research report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Barclays increased their price target on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Finally, Citigroup dropped their price target on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $968.87.

McKesson Trading Up 1.9%

MCK opened at $775.38 on Tuesday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The business’s fifty day simple moving average is $851.72 and its 200-day simple moving average is $857.32. The company has a market capitalization of $93.20 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.13 and a beta of 0.35.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter last year, the company earned $10.12 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts predict that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed 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 of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

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.