Focus Partners Wealth Boosts Stock Position in McKesson Corporation $MCK

Focus Partners Wealth grew its position in shares of McKesson Corporation (NYSE:MCK) by 33.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,962 shares of the company’s stock after purchasing an additional 22,781 shares during the quarter. Focus Partners Wealth’s holdings in McKesson were worth $74,563,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GGM Financials LLC purchased a new stake in McKesson in the third quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in McKesson during the fourth quarter valued at approximately $26,000. State of Wyoming purchased a new position in shares of McKesson during the second quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of McKesson in the 3rd quarter worth approximately $33,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of McKesson in the 4th quarter worth approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK stock opened at $783.88 on Monday. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm has a market cap of $94.22 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.29 and a beta of 0.31. The business’s 50 day moving average price is $798.10 and its 200-day moving average price is $846.19.

McKesson (NYSE:MCK) last announced its 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. 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 during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the prior year, the company earned $10.12 earnings per share. The firm’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. As a group, equities analysts predict that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the 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 transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 11,822 shares of company stock valued at $8,986,212. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent research reports. Citigroup reduced their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Wells Fargo & Company lowered their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Raymond James Financial set a $970.00 price objective on McKesson in a research note on Thursday, March 5th. Finally, UBS Group lifted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $960.53.

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.