Connecticut Wealth Management LLC Reduces Holdings in McKesson Corporation $MCK

Key Points

• Connecticut Wealth Management LLC cut its McKesson stake by 42.5% in the fourth quarter, selling 2,591 shares and ending with 3,505 shares valued at about $2.88 million.
• McKesson reported fiscal Q4 EPS of $11.69, beating estimates, while revenue came in at $96.3 billion versus expectations of $101.35 billion; the company also reaffirmed strong forward guidance for FY 2027.
• The company declared a quarterly dividend of $0.82 per share, and analysts remain broadly positive with 14 Buy ratings, 3 Hold ratings, and a consensus price target of $960.53.

Connecticut Wealth Management LLC decreased its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 42.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,505 shares of the company's stock after selling 2,591 shares during the period. Connecticut Wealth Management LLC's holdings in McKesson were worth $2,875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. grew its stake in McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock valued at $1,855,000 after buying an additional 11 shares during the last quarter. Investment Research Partners LLC grew its stake in McKesson by 0.7% in the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock valued at $1,332,000 after buying an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC grew its stake in McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company's stock valued at $346,000 after buying an additional 12 shares during the last quarter. LRI Investments LLC grew its stake in McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after buying an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC grew its stake in McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

Shares of MCK stock opened at $788.44 on Friday. 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 $94.77 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.30 and a beta of 0.31. The firm has a fifty day moving average of $799.89 and a 200-day moving average of $846.79.

McKesson (NYSE:MCK - Get Free Report) last posted 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 net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the prior year, the firm earned $10.12 EPS. 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. On average, sell-side analysts predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

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

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company's 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 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 document filed with the Securities & Exchange Commission, which is available through 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 stock was 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 directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. The trade was a 23.56% 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 11,822 shares of company stock worth $8,986,212 in the last quarter. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on MCK. Wells Fargo & Company cut their target price on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 12th. William Blair began coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an "outperform" rating for the company. Bank of America cut their target price on shares of 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. Evercore reiterated an "outperform" rating on shares of McKesson in a research note on Thursday, March 5th. Finally, Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $960.53.

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.

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