Atalanta Sosnoff Capital LLC Sells 1,912 Shares of McKesson Corporation $MCK

Atalanta Sosnoff Capital LLC lessened its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 125,583 shares of the company's stock after selling 1,912 shares during the period. McKesson accounts for approximately 2.0% of Atalanta Sosnoff Capital LLC's holdings, making the stock its 16th biggest position. Atalanta Sosnoff Capital LLC owned about 0.10% of McKesson worth $103,015,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised 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 acquiring an additional 798 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of McKesson during the first quarter valued at approximately $233,000. Sivia Capital Partners LLC raised its stake in McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock worth $502,000 after buying an additional 300 shares in the last quarter. Treasurer of the State of North Carolina raised its stake 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 worth $42,958,000 after buying an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson in the second quarter worth approximately $166,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Citigroup dropped their price objective 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. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Finally, William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an "outperform" rating on the stock. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $960.53.

McKesson Stock Down 0.4%

MCK stock opened at $783.88 on Friday. The stock has a market cap of $94.22 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.31. The firm's 50-day simple moving average is $798.10 and its 200 day simple moving average is $846.35. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson's payout ratio is currently 8.53%.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was 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 owned 632 shares of the company's stock, valued at approximately $482,848. This represents a 17.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total value of $3,760,827.00. Following the completion of the transaction, the chief executive officer owned 22,845 shares in the company, valued at $17,430,735. The trade was a 17.75% 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. Over the last quarter, insiders sold 11,822 shares of company stock valued at $8,986,212. 0.08% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.