McKesson Corporation $MCK Stake Lifted by Diversify Wealth Management LLC

Diversify Wealth Management LLC lifted its position in shares of McKesson Corporation (NYSE:MCK) by 174.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 965 shares of the company’s stock after acquiring an additional 614 shares during the period. Diversify Wealth Management LLC’s holdings in McKesson were worth $794,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Cullen Investment Group LTD. lifted its holdings in shares of McKesson by 550.4% in the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after buying an additional 3,952 shares during the period. Pensionfund Sabic acquired a new stake in McKesson in the 4th quarter valued at about $1,887,000. Investment Research Partners LLC bought a new position in shares of McKesson during the 3rd quarter valued at about $1,303,000. Horizon Investments LLC grew its stake in shares of McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after purchasing an additional 4,828 shares during the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. raised its holdings in shares of McKesson by 31,043.0% in the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 115,852 shares of the company’s stock worth $95,032,000 after purchasing an additional 115,480 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McKesson news, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 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 owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,748 shares of company stock worth $22,262,035 over the last ninety days. Company insiders own 0.06% of the company’s stock.

McKesson Stock Up 5.5%

MCK stock opened at $840.18 on Friday. The firm has a 50 day moving average of $769.18 and a two-hundred day moving average of $838.30. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The company has a market capitalization of $98.37 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 1.31 and a beta of 0.31.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating 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 net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, research analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid 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 of this dividend was Monday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research reports. Barclays reduced their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Bank of America decreased their price target on 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. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. William Blair assumed coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Finally, Weiss Ratings lowered shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $960.53.

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.