71 West Capital Partners Buys Shares of 688 McKesson Corporation $MCK

71 West Capital Partners purchased a new stake in McKesson Corporation (NYSE:MCK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 688 shares of the company’s stock, valued at approximately $564,000.

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. acquired a new position in McKesson in the 4th quarter worth about $26,000. GGM Financials LLC bought a new position in McKesson in the third quarter valued at about $25,000. State of Wyoming acquired a new stake in shares of McKesson during the second quarter valued at about $29,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of McKesson during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred 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 in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 11,822 shares of company stock worth $8,986,212. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCK shares. JPMorgan Chase & Co. dropped their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. William Blair began coverage on shares of McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Finally, Raymond James Financial set a $970.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $960.53.

McKesson Price Performance

McKesson stock opened at $786.55 on Wednesday. The stock’s 50 day moving average is $794.00 and its 200 day moving average is $844.72. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm has a market cap of $92.09 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.28 and a beta of 0.31.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

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.