111 Capital Buys 891 Shares of McKesson Corporation $MCK

111 Capital grew its stake in McKesson Corporation (NYSE:MCK) by 302.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,186 shares of the company’s stock after purchasing an additional 891 shares during the period. 111 Capital’s holdings in McKesson were worth $973,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. lifted its stake in McKesson by 35.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock worth $3,931,000 after purchasing an additional 1,329 shares in the last quarter. Cullen Investment Group LTD. increased its holdings in shares of McKesson by 550.4% in the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after buying an additional 3,952 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of McKesson by 12.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock worth $255,438,000 after buying an additional 36,451 shares during the last quarter. Pensionfund Sabic bought a new position in shares of McKesson during the 4th quarter valued at $1,887,000. Finally, Varma Mutual Pension Insurance Co grew its holdings in shares of McKesson by 28.9% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 21,853 shares of the company’s stock valued at $16,882,000 after purchasing an additional 4,900 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Leerink Partners reissued an “outperform” rating and issued a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. Citigroup dropped their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Weiss Ratings cut shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Bank of America lowered their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $968.87.

McKesson Trading Up 2.6%

Shares of NYSE MCK opened at $776.51 on Friday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The firm has a market capitalization of $93.34 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.25 and a beta of 0.31. The firm has a 50 day moving average of $806.32 and a 200 day moving average of $848.96.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the previous year, the firm earned $10.12 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts predict that McKesson Corporation will post 44.27 EPS for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were 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 of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,760 shares of company stock worth $5,123,773 in the last three months. Insiders own 0.08% of the company’s stock.

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.