McKesson Corporation $MCK Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 854,784 shares of the company’s stock after purchasing an additional 27,386 shares during the period. Bank of New York Mellon Corp’s holdings in McKesson were worth $701,171,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MCK. GGM Financials LLC acquired a new stake in McKesson during the 3rd quarter worth $25,000. State of Wyoming acquired a new stake in McKesson during the 2nd quarter worth $29,000. Hopwood Financial Services Inc. acquired a new stake in McKesson during the 3rd quarter worth $31,000. Vermillion & White Wealth Management Group LLC acquired a new stake in McKesson during the 3rd quarter worth $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in McKesson during the 4th quarter worth $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $740.43 on Thursday. The firm has a fifty day moving average of $810.87 and a two-hundred day moving average of $850.07. The company has a market cap of $89.00 billion, a P/E ratio of 19.25, a PEG ratio of 1.10 and a beta of 0.31. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) 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 business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts predict that McKesson Corporation will post 44.29 earnings per share for the current 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 issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MCK shares. Mizuho increased their price target on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Citigroup decreased their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. UBS Group upped their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wells Fargo & Company cut their price objective 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. Finally, JPMorgan Chase & Co. cut 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 research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $968.87.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, EVP Michele Lau sold 3,550 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% 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 sold a total of 6,760 shares of company stock valued at $5,123,773 in the last quarter. Insiders own 0.08% of the company’s stock.

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.