McKesson Corporation $MCK Stake Trimmed by Gabelli Funds LLC

Gabelli Funds LLC lessened its stake in shares of McKesson Corporation (NYSE:MCK) by 17.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,301 shares of the company’s stock after selling 1,519 shares during the quarter. Gabelli Funds LLC’s holdings in McKesson were worth $6,318,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of McKesson by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after acquiring an additional 11 shares in the last quarter. Investment Research Partners LLC raised its holdings in shares of McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after acquiring an additional 11 shares during the period. IHT Wealth Management LLC lifted its position in shares of McKesson by 0.9% in the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after acquiring an additional 11 shares in the last quarter. LRI Investments LLC boosted its stake in McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares during the period. Finally, Macroview Investment Management LLC boosted its stake in McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after purchasing an additional 12 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. TD Cowen decreased their target price on McKesson from $1,012.00 to $989.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Barclays lowered their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $962.67.

McKesson Stock Performance

McKesson stock opened at $850.94 on Tuesday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The firm has a market cap of $99.63 billion, a PE ratio of 22.12, a P/E/G ratio of 1.38 and a beta of 0.31. The firm’s 50 day moving average price is $781.55 and its two-hundred day moving average price is $838.73.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter last year, the business posted $10.12 EPS. The company’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. Equities analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is 9.77%.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the business’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 $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% 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. Over the last three months, insiders have sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is owned by company insiders.

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.