Suncoast Equity Management Sells 1,130 Shares of McKesson Corporation $MCK

Suncoast Equity Management lessened its stake in shares of McKesson Corporation (NYSE:MCK) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,255 shares of the company’s stock after selling 1,130 shares during the period. McKesson comprises approximately 4.2% of Suncoast Equity Management’s investment portfolio, making the stock its 11th biggest holding. Suncoast Equity Management’s holdings in McKesson were worth $41,224,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GGM Financials LLC bought a new position in McKesson in the third quarter worth approximately $25,000. State of Wyoming bought a new position in McKesson in the second quarter worth approximately $29,000. Hopwood Financial Services Inc. bought a new position in McKesson in the third quarter worth approximately $31,000. Board of the Pension Protection Fund bought a new position in McKesson in the fourth quarter worth approximately $33,000. Finally, Kingdom Financial Group LLC. bought a new position in McKesson in the fourth quarter worth approximately $33,000. 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 on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the sale, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.08% of the stock is owned by insiders.

McKesson Trading Down 0.1%

Shares of MCK stock opened at $741.47 on Monday. The business’s fifty day simple moving average is $819.93 and its 200-day simple moving average is $852.40. The company has a market cap of $89.12 billion, a PE ratio of 19.27, a PEG ratio of 1.11 and a beta of 0.31. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts forecast that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

MCK has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. TD Cowen boosted their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Mizuho upped their price target on McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Finally, UBS Group upped their price target on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $968.87.

About McKesson

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.