Chicago Partners Investment Group LLC Boosts Holdings in McKesson Corporation $MCK

Chicago Partners Investment Group LLC raised its position in McKesson Corporation (NYSE:MCK) by 52.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,864 shares of the company’s stock after purchasing an additional 639 shares during the period. Chicago Partners Investment Group LLC’s holdings in McKesson were worth $1,546,000 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 company. University of Texas Texas AM Investment Management Co. bought a new position in McKesson in the 4th quarter worth about $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson during the 4th quarter valued at about $26,000. State of Wyoming bought a new stake in shares of McKesson during the 2nd quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of McKesson during the third quarter worth about $33,000. Finally, Board of the Pension Protection Fund purchased a new position in shares of McKesson during the fourth quarter worth about $33,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In related news, EVP Michele Lau sold 3,550 shares of McKesson 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 in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 the business’s stock in a transaction 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 $482,848. This represents a 17.39% decrease in their ownership of the stock. 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 28,748 shares of company stock worth $22,262,035 in the last quarter. 0.06% of the stock is currently owned by company insiders.

McKesson Trading Down 1.2%

Shares of NYSE MCK opened at $802.80 on Wednesday. The stock’s 50-day moving average is $766.34 and its 200 day moving average is $838.42. The stock has a market cap of $93.99 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 1.34 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid 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 dividend yield of 0.4%. McKesson’s dividend payout ratio is 8.53%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MCK shares. 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. William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Citigroup decreased 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. UBS Group raised their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company dropped their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $960.53.

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.