Arrowstreet Capital Limited Partnership Lowers Holdings in McKesson Corporation $MCK

Arrowstreet Capital Limited Partnership decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 4.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,312,164 shares of the company’s stock after selling 64,112 shares during the quarter. McKesson makes up about 0.6% of Arrowstreet Capital Limited Partnership’s holdings, making the stock its 25th biggest holding. Arrowstreet Capital Limited Partnership’s holdings in McKesson were worth $1,135,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares during the period. Caxton Associates LLP purchased a new stake in shares of McKesson in the 1st quarter valued at approximately $233,000. Sivia Capital Partners LLC raised its stake in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after acquiring an additional 300 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of McKesson in the 2nd quarter worth approximately $166,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Key Stories Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson raised its quarterly dividend by 15% to $0.94 per share, a shareholder-friendly move that suggests strong underlying cash generation and could support investor sentiment. McKesson Corporation Raises Quarterly Dividend by 15% to $0.94 Per Share
• Positive Sentiment: Some coverage framed McKesson as a stock worth watching, reflecting continued investor interest in the name after its strong long-term performance. 1 S&P 500 Stock on Our Buy List and 2 Facing Challenges
• Neutral Sentiment: McKesson was also featured in “trending stock” and long-term performance articles, which indicate elevated attention but do not add a clear new fundamental catalyst. Is Trending Stock McKesson Corporation (MCK) a Buy Now?
• Negative Sentiment: TD Cowen reportedly lowered expectations for McKesson, and separate commentary noted the stock had recently underperformed the broader market, which may have weighed on sentiment. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

Analyst Ratings Changes

Several analysts recently weighed in on MCK shares. TD Cowen dropped their target price on shares of McKesson from $1,012.00 to $989.00 and set a “buy” rating for the company in a report on Tuesday. Citigroup decreased their price target on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. William Blair started coverage on McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Bank of America dropped their price objective on 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. Finally, Barclays dropped 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. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $959.00.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the sale, the executive vice president owned 3,090 shares of the company’s stock, valued at $2,351,768.10. This trade represents a 43.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the 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 directly owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 28,748 shares of company stock valued at $22,262,035. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Up 1.3%

McKesson stock opened at $824.71 on Friday. The firm has a market cap of $96.56 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.34 and a beta of 0.31. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The company’s 50 day moving average is $778.42 and its two-hundred day moving average is $838.44.

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

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.5%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is 8.53%.

McKesson Company 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.