McKesson Corporation $MCK Holdings Lifted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its position in shares of McKesson Corporation (NYSE:MCK) by 5.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 63,874 shares of the company’s stock after buying an additional 3,390 shares during the period. Los Angeles Capital Management LLC’s holdings in McKesson were worth $52,730,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position 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 valued at $9,929,380,000 after purchasing an additional 73,109 shares during the period. State Street Corp boosted its position in shares of McKesson by 0.9% in the 3rd quarter. State Street Corp now owns 5,750,519 shares of the company’s stock valued at $4,447,110,000 after purchasing an additional 51,510 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 period. Franklin Resources Inc. boosted its position in shares of McKesson by 3.5% in the 3rd quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock valued at $2,071,428,000 after purchasing an additional 90,948 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of McKesson by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after purchasing an additional 126,684 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,760 shares of company stock valued at $5,123,773 over the last ninety days. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 2.6%

Shares of NYSE MCK opened at $776.51 on Friday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm has a market capitalization of $93.34 billion, a PE ratio of 20.18, a PEG ratio of 1.28 and a beta of 0.31. The business has a 50-day moving average price of $806.32 and a two-hundred day moving average price of $848.96.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping 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 firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same period last year, the company posted $10.12 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid 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 dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 8.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Barclays raised their price objective on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, Bank of America decreased their price objective on 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. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $968.87.

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.