McKesson Corporation $MCK is Burney Co.’s 10th Largest Position

Burney Co. decreased its position in McKesson Corporation (NYSE:MCK) by 30.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,467 shares of the company’s stock after selling 16,889 shares during the period. McKesson makes up approximately 1.1% of Burney Co.’s holdings, making the stock its 10th biggest position. Burney Co.’s holdings in McKesson were worth $34,153,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MCK. Swedbank AB lifted its stake in shares of McKesson by 13.5% in the first quarter. Swedbank AB now owns 1,005,610 shares of the company’s stock worth $870,215,000 after buying an additional 119,327 shares in the last quarter. Schear Investment Advisers LLC lifted its position in McKesson by 0.9% in the 1st quarter. Schear Investment Advisers LLC now owns 2,907 shares of the company’s stock valued at $2,516,000 after acquiring an additional 27 shares in the last quarter. Busey Bank boosted its stake in McKesson by 1.9% during the 1st quarter. Busey Bank now owns 10,516 shares of the company’s stock valued at $9,100,000 after purchasing an additional 194 shares during the last quarter. Collaborative Fund Advisors LLC bought a new stake in shares of McKesson in the 1st quarter worth $442,000. Finally, Abel Hall LLC increased its holdings in shares of McKesson by 91.7% in the 1st quarter. Abel Hall LLC now owns 533 shares of the company’s stock worth $461,000 after purchasing an additional 255 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the completion of the transaction, the chief executive officer directly owned 14,382 shares in the company, 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. Insiders have sold 20,285 shares of company stock worth $15,546,137 over the last quarter. Company insiders own 0.06% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $784.75 on Tuesday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm has a market capitalization of $91.88 billion, a P/E ratio of 20.40, a PEG ratio of 1.29 and a beta of 0.31. The business has a fifty day moving average of $769.23 and a 200 day moving average of $839.09.

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

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent analyst reports. UBS Group boosted their price target on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. 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 report on Friday, May 8th. Barclays lowered their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Finally, Citigroup dropped their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $960.53.

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.