Elevation Point Wealth Partners LLC Has $3.07 Million Stock Holdings in McKesson Corporation $MCK

Elevation Point Wealth Partners LLC boosted its position in McKesson Corporation (NYSE:MCK) by 236.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,550 shares of the company’s stock after buying an additional 2,496 shares during the period. Elevation Point Wealth Partners LLC’s holdings in McKesson were worth $3,074,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MCK. Vanguard Group Inc. grew its stake in McKesson by 0.6% in 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 raised its position in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after purchasing an additional 29,660 shares during the period. Geode Capital Management LLC raised its position in shares of McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after purchasing an additional 25,082 shares during the period. Franklin Resources Inc. lifted its holdings in shares of McKesson by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after purchasing an additional 144,633 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings 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 worth $1,850,001,000 after purchasing an additional 126,684 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays decreased their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Bank of America reduced their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. UBS Group boosted their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $960.53.

McKesson Trading Down 0.0%

Shares of NYSE:MCK opened at $786.17 on Friday. The stock has a market cap of $92.05 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31. The stock’s fifty day simple moving average is $769.23 and its two-hundred day simple moving average is $838.98. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.

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

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. This trade represents a 17.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% 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. In the last 90 days, insiders have sold 20,285 shares of company stock worth $15,546,137. Corporate insiders own 0.06% of the company’s stock.

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.