Northwestern Mutual Wealth Management Co. Sells 637 Shares of McKesson Corporation $MCK

Northwestern Mutual Wealth Management Co. lowered its stake in McKesson Corporation (NYSE:MCK) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,723 shares of the company’s stock after selling 637 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in McKesson were worth $7,347,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCK. Brighton Jones LLC raised its holdings in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of McKesson in the 1st quarter valued at about $233,000. Sivia Capital Partners LLC increased its holdings in McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after buying an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. bought a new position in shares of McKesson during the 2nd quarter worth approximately $166,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 2.2%

Shares of NYSE:MCK opened at $927.16 on Thursday. McKesson Corporation has a twelve month low of $682.35 and a twelve month high of $999.00. The stock’s 50 day moving average is $842.13 and its 200-day moving average is $842.72. The firm has a market capitalization of $108.10 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.80 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the business posted $8.26 EPS. McKesson’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is presently 10.06%.

Insider Buying and Selling

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,289 shares of company stock worth $17,406,854 in the last quarter. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of several research analyst reports. TD Cowen lifted their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a report on Friday, August 7th. UBS Group upped their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $973.44.

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.