AdvisorShares Investments LLC Sells 782 Shares of McKesson Corporation $MCK

AdvisorShares Investments LLC cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,520 shares of the company’s stock after selling 782 shares during the period. McKesson accounts for approximately 1.3% of AdvisorShares Investments LLC’s holdings, making the stock its 14th biggest holding. AdvisorShares Investments LLC’s holdings in McKesson were worth $7,373,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MCK. Astoria Portfolio Advisors LLC. boosted its stake in McKesson by 5.8% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 349 shares of the company’s stock worth $289,000 after acquiring an additional 19 shares during the last quarter. Walter Public Investments Inc. increased its stake in McKesson by 118.2% in the first quarter. Walter Public Investments Inc. now owns 17,387 shares of the company’s stock valued at $15,046,000 after purchasing an additional 9,417 shares in the last quarter. Walkner Condon Financial Advisors LLC increased its stake in McKesson by 13.0% in the first quarter. Walkner Condon Financial Advisors LLC now owns 610 shares of the company’s stock valued at $528,000 after purchasing an additional 70 shares in the last quarter. Kepler Cheuvreux Suisse SA acquired a new stake in McKesson in the first quarter worth $2,219,000. Finally, Northstar Group Inc. acquired a new stake in McKesson in the first quarter worth $208,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’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 sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the sale, the chief executive officer directly owned 14,382 shares of the company’s stock, valued at approximately $11,147,919.66. The trade was a 37.05% 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. Over the last ninety days, insiders have sold 20,285 shares of company stock worth $15,546,137. Company insiders own 0.06% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $786.17 on Friday. The business’s 50 day simple moving average is $769.23 and its 200 day simple moving average is $838.98. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The firm has a market cap of $92.05 billion, a PE ratio of 20.44, a P/E/G ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during 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 revenue was up 6.0% on a year-over-year basis. 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. As a group, equities research analysts predict that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. Citigroup reduced their target price on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. JPMorgan Chase & Co. decreased their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, UBS Group raised 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

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.