CGN Advisors LLC Sells 632 Shares of McKesson Corporation $MCK

CGN Advisors LLC lessened its stake in McKesson Corporation (NYSE:MCK) by 13.2% in the fourth quarter, HoldingsChannel reports. The fund owned 4,167 shares of the company’s stock after selling 632 shares during the period. CGN Advisors LLC’s holdings in McKesson were worth $3,418,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GGM Financials LLC purchased a new position in McKesson in the 3rd quarter worth approximately $25,000. State of Wyoming bought a new stake in McKesson in the second quarter valued at approximately $29,000. Hopwood Financial Services Inc. purchased a new stake in shares of McKesson during the third quarter valued at approximately $31,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of McKesson during the third quarter valued at approximately $33,000. Finally, Delos Wealth Advisors LLC bought a new position in shares of McKesson in the second quarter worth approximately $35,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MCK. Morgan Stanley reiterated an “overweight” rating and set a $966.00 price target on shares of McKesson in a report on Thursday, January 29th. JPMorgan Chase & Co. raised their price target on shares of McKesson from $983.00 to $1,107.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Robert W. Baird set a $968.00 price objective on shares of McKesson in a research note on Wednesday, January 14th. TD Cowen increased their target price on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Leerink Partners restated an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $960.93.

McKesson Price Performance

Shares of MCK opened at $898.82 on Friday. The company has a 50-day simple moving average of $902.24 and a two-hundred day simple moving average of $831.10. The firm has a market capitalization of $110.10 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 1.48 and a beta of 0.38. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share for the quarter, topping analysts’ consensus estimates of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The firm had revenue of $106.16 billion for the quarter, compared to the consensus estimate of $105.98 billion. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.03 EPS. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. Analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 9.43%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 190 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total transaction of $179,550.00. Following the transaction, the executive vice president owned 2,989 shares in the company, valued at approximately $2,824,605. This represents a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michele Lau sold 2,725 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at $3,214,530. This represents a 45.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,868 shares of company stock worth $3,743,820 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

McKesson Company 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.