Sunbelt Securities Inc. Boosts Stake in McKesson Corporation $MCK

Sunbelt Securities Inc. grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 409.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,779 shares of the company’s stock after acquiring an additional 2,234 shares during the quarter. Sunbelt Securities Inc.’s holdings in McKesson were worth $2,405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Horizon Investments LLC raised its stake in shares of McKesson by 125.4% during the fourth quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after acquiring an additional 4,828 shares in the last quarter. J. Safra Sarasin Holding AG bought a new stake in shares of McKesson in the 4th quarter worth approximately $2,481,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of McKesson by 18.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company’s stock valued at $25,860,000 after purchasing an additional 4,964 shares in the last quarter. HF Advisory Group LLC grew its holdings in shares of McKesson by 2,069.6% during the 4th quarter. HF Advisory Group LLC now owns 44,910 shares of the company’s stock valued at $36,839,000 after purchasing an additional 42,840 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of McKesson by 62.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock valued at $2,590,000 after purchasing an additional 1,219 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michele Lau sold 3,550 shares of the business’s 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 of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% 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. Insiders sold a total of 28,748 shares of company stock valued at $22,262,035 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

McKesson Trading Up 0.1%

MCK stock opened at $890.23 on Thursday. The stock has a market capitalization of $104.23 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.46 and a beta of 0.31. The firm’s 50-day moving average price is $786.82 and its two-hundred day moving average price is $839.75. McKesson Corporation has a 12-month low of $637.00 and a 12-month 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. 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 for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the firm earned $10.12 earnings per share. McKesson’s quarterly revenue 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 predict that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is 8.53%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MCK shares. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Citigroup raised their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. decreased their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Finally, Wells Fargo & Company decreased their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $962.67.

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.