Atalanta Sosnoff Capital LLC Decreases Holdings in McKesson Corporation $MCK

Atalanta Sosnoff Capital LLC cut its position in shares of McKesson Corporation (NYSE:MCK) by 1.5% during the 4th quarter, HoldingsChannel reports. The firm owned 125,583 shares of the company’s stock after selling 1,912 shares during the period. McKesson accounts for about 2.0% of Atalanta Sosnoff Capital LLC’s investment portfolio, making the stock its 16th biggest holding. Atalanta Sosnoff Capital LLC’s holdings in McKesson were worth $103,015,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after acquiring an additional 73,109 shares during the last quarter. State Street Corp increased its holdings in McKesson by 0.9% in the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock valued at $4,447,110,000 after buying an additional 51,510 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of McKesson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after purchasing an additional 25,082 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of McKesson by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after purchasing an additional 144,633 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of McKesson by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after purchasing an additional 126,684 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total value of $3,760,827.00. Following the transaction, the chief executive officer directly owned 22,845 shares in the company, valued at $17,430,735. The trade was a 17.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,822 shares of company stock valued at $8,986,212 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Down 0.4%

McKesson stock opened at $783.88 on Friday. The firm’s fifty day moving average is $798.10 and its 200 day moving average is $846.35. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The company has a market capitalization of $94.22 billion, a PE ratio of 20.38, a PEG ratio of 1.30 and a beta of 0.31.

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. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MCK shares. William Blair initiated coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Bank of America decreased their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Finally, Wells Fargo & Company lowered their price target on shares of 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 analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

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.