Anchor Capital Advisors LLC Cuts Holdings in McKesson Corporation $MCK

Key Points

• Anchor Capital Advisors trimmed its McKesson stake by 3.8% in the fourth quarter, though the stock remains its largest holding and made up about 2.6% of the firm’s portfolio.
• McKesson reported better-than-expected EPS of $11.69 for the quarter, but revenue came in below estimates at $96.3 billion despite rising 6% year over year.
• The company declared a quarterly dividend of $0.82 per share, while analysts remain broadly positive with 14 Buy ratings and an average price target of $968.87.

Anchor Capital Advisors LLC reduced its position in McKesson Corporation (NYSE:MCK - Free Report) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,544 shares of the company's stock after selling 4,393 shares during the quarter. McKesson accounts for approximately 2.6% of Anchor Capital Advisors LLC's holdings, making the stock its biggest holding. Anchor Capital Advisors LLC owned approximately 0.09% of McKesson worth $90,678,000 at the end of the most recent quarter.

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

McKesson Trading Up 0.1%

Shares of MCK stock opened at $735.76 on Wednesday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The business's fifty day simple moving average is $816.69 and its 200-day simple moving average is $851.56. The company has a market cap of $88.44 billion, a PE ratio of 19.13, a PEG ratio of 1.10 and a beta of 0.31.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share 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 firm 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 business earned $10.12 EPS. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts forecast that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson's dividend payout ratio (DPR) is 8.53%.

Insider Transactions at McKesson

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, EVP Michele Lau sold 3,550 shares of McKesson 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 sale, the executive vice president owned 3,247 shares of the company's stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. 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 own 0.08% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MCK shares. TD Cowen upped their price target on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research note on Thursday, March 5th. William Blair started coverage on McKesson in a report on Tuesday, April 28th. They set an "outperform" rating for the company. Wells Fargo & Company dropped their target price on McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. Finally, Barclays lifted their price target on McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $968.87.

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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