Cerity Partners LLC Increases Stock Holdings in McKesson Corporation $MCK

Key Points

• Cerity Partners LLC increased its McKesson stake by 12.7% in the fourth quarter, adding 7,211 shares and bringing its total holdings to 64,166 shares worth about $52.6 million.
• McKesson insiders sold shares recently, including EVP Michele Lau and EVP Thomas L. Rodgers, with insiders selling 6,893 shares worth about $5.2 million over the last quarter.
• Analysts remain broadly positive on McKesson despite some mixed target changes, with 14 Buy ratings, 3 Hold ratings, and a consensus price target of $968.87.

Cerity Partners LLC boosted its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 12.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,166 shares of the company's stock after purchasing an additional 7,211 shares during the quarter. Cerity Partners LLC owned approximately 0.05% of McKesson worth $52,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of McKesson by 46.3% in the fourth 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 McKesson during the first quarter worth approximately $233,000. Sivia Capital Partners LLC boosted its holdings 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 purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of 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 buying an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of McKesson during the 2nd quarter worth $166,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Michele Lau sold 3,550 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,893 shares of company stock worth $5,225,385. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 12th. UBS Group lifted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Wall Street Zen raised shares of McKesson from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Finally, Bank of America reduced their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus price target of $968.87.

McKesson Trading Up 2.2%

NYSE MCK opened at $783.71 on Wednesday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a market cap of $94.20 billion, a P/E ratio of 20.37, a PEG ratio of 1.26 and a beta of 0.31. The company's fifty day simple moving average is $802.84 and its 200-day simple moving average is $847.76.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts' consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the previous year, the business posted $10.12 EPS. The firm's 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. 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 declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson's dividend payout ratio (DPR) is presently 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.

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