Ascentis Independent Advisors Increases Holdings in McKesson Corporation $MCK

Ascentis Independent Advisors grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 55.6% during the 1st quarter, HoldingsChannel reports. The fund owned 3,388 shares of the company’s stock after acquiring an additional 1,210 shares during the quarter. Ascentis Independent Advisors’ holdings in McKesson were worth $2,932,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Stephens Inc. AR increased its holdings in shares of McKesson by 0.8% in the first quarter. Stephens Inc. AR now owns 1,581 shares of the company’s stock worth $1,368,000 after buying an additional 12 shares during the period. Astoria Portfolio Advisors LLC. boosted its stake in shares of McKesson by 5.8% during the first quarter. Astoria Portfolio Advisors LLC. now owns 349 shares of the company’s stock valued at $289,000 after purchasing an additional 19 shares during the period. Walter Public Investments Inc. boosted its stake in shares of McKesson by 118.2% during 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 during the period. Walkner Condon Financial Advisors LLC grew its holdings in shares of McKesson by 13.0% in the first quarter. Walkner Condon Financial Advisors LLC now owns 610 shares of the company’s stock worth $528,000 after purchasing an additional 70 shares during the last quarter. Finally, Kepler Cheuvreux Suisse SA purchased a new position in shares of McKesson in the first quarter worth $2,219,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction that occurred on 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 directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson 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 completion of the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% 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 have sold a total of 20,285 shares of company stock worth $15,546,137 over the last quarter. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MCK shares. Citigroup cut 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. JPMorgan Chase & Co. lowered 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 note on Friday, May 8th. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. UBS Group boosted their price target on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Barclays lowered their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $960.53.

McKesson Stock Performance

MCK stock opened at $786.17 on Monday. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The company has a market capitalization of $92.05 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31. The business’s 50 day moving average price is $769.23 and its two-hundred day moving average price is $839.09.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the previous year, the company posted $10.12 earnings per share. The company’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. Sell-side analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

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

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.