LPL Financial LLC Increases Stake in McKesson Corporation $MCK

LPL Financial LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 209,214 shares of the company’s stock after acquiring an additional 12,174 shares during the quarter. LPL Financial LLC owned 0.17% of McKesson worth $171,616,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MCK. Brighton Jones LLC raised its position in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of McKesson in the first quarter valued at approximately $233,000. Sivia Capital Partners LLC increased its position in shares of McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after buying an additional 300 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of 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 in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of McKesson in the second quarter valued at approximately $166,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction on 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 transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. 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 sold a total of 6,893 shares of company stock worth $5,225,385 in the last three months. 0.08% of the stock is owned by corporate insiders.

McKesson Stock Up 0.6%

Shares of MCK opened at $789.20 on Thursday. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The firm’s fifty day moving average is $801.42 and its two-hundred day moving average is $847.34. The stock has a market cap of $94.86 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last announced 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 company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MCK shares. Leerink Partners restated an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research report on Thursday, March 5th. UBS Group boosted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings cut McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Bank of America cut 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. Finally, Wells Fargo & Company cut their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently 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.