Great Lakes Advisors LLC Sells 2,441 Shares of McKesson Corporation $MCK

Great Lakes Advisors LLC trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,694 shares of the company’s stock after selling 2,441 shares during the period. Great Lakes Advisors LLC owned 0.05% of McKesson worth $53,888,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cullen Investment Group LTD. grew its stake in McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after acquiring an additional 3,952 shares in the last quarter. Pensionfund Sabic purchased a new position in McKesson during the fourth quarter valued at $1,887,000. Varma Mutual Pension Insurance Co grew its stake in McKesson by 28.9% during the third quarter. Varma Mutual Pension Insurance Co now owns 21,853 shares of the company’s stock valued at $16,882,000 after acquiring an additional 4,900 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in McKesson by 18.8% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,009 shares of the company’s stock valued at $7,732,000 after acquiring an additional 1,585 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in McKesson by 24.3% during the third quarter. PNC Financial Services Group Inc. now owns 242,256 shares of the company’s stock valued at $187,152,000 after acquiring an additional 47,352 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. William Blair initiated coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Bank of America cut their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Weiss Ratings cut shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Finally, UBS Group lifted 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 note on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $960.53.

McKesson Stock Down 0.3%

Shares of NYSE:MCK opened at $788.44 on Friday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a market capitalization of $94.77 billion, a P/E ratio of 20.50, a PEG ratio of 1.30 and a beta of 0.31. The firm has a fifty day simple moving average of $799.89 and a two-hundred day simple moving average of $846.79.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the company posted $10.12 EPS. The business’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts expect that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is 8.53%.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. This trade represents a 17.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This trade represents a 23.56% 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 a total of 11,822 shares of company stock worth $8,986,212 over the last 90 days. Insiders own 0.08% of the company’s stock.

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.