Allspring Global Investments Holdings LLC Increases Stake in McKesson Corporation $MCK

Allspring Global Investments Holdings LLC increased its stake in McKesson Corporation (NYSE:MCK - Free Report) by 10.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,944 shares of the company's stock after purchasing an additional 21,588 shares during the period. Allspring Global Investments Holdings LLC owned 0.18% of McKesson worth $192,734,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock worth $1,438,000 after acquiring an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of McKesson in the first quarter worth about $233,000. Sivia Capital Partners LLC lifted its holdings in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock worth $502,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina boosted its position in McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock valued at $42,958,000 after buying an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in McKesson in the second quarter valued at approximately $166,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCK. Barclays reduced their price target on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Wells Fargo & Company reduced their target price 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. Citigroup decreased their target price on shares of McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $960.53.

McKesson Price Performance

Shares of NYSE MCK opened at $840.18 on Friday. The stock has a market capitalization of $98.37 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 1.31 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm's 50 day simple moving average is $769.18 and its 200-day simple moving average is $838.30.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results 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 firm 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 business's revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company's 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% 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. Insiders sold a total of 28,748 shares of company stock valued at $22,262,035 in the last three months. 0.06% of the stock is currently owned by company insiders.

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.

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