Corient Private Wealth LLC Sells 36,471 Shares of McKesson Corporation $MCK

Key Points

• Corient Private Wealth LLC cut its McKesson stake by 21.7% in the fourth quarter, selling 36,471 shares and leaving it with 131,376 shares worth about $108.4 million.
• McKesson reported strong fiscal Q4 earnings, with EPS of $11.69 beating estimates, while revenue rose 6% year over year. The company also reaffirmed FY 2027 guidance of 43.8 to 44.6 EPS.
• Investor sentiment is being shaped by insider selling and analyst updates: CEO Brian Tyler sold shares under a 10b5-1 plan, and recent Wall Street commentary remains mostly positive with a Moderate Buy consensus and a $960.53 target price.

Corient Private Wealth LLC decreased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 131,376 shares of the company's stock after selling 36,471 shares during the quarter. Corient Private Wealth LLC owned about 0.11% of McKesson worth $108,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of MCK. Brighton Jones LLC boosted its position 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 last quarter. Caxton Associates LLP purchased a new stake in shares of McKesson during the 1st quarter valued at $233,000. Sivia Capital Partners LLC raised its stake in shares of 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 purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of McKesson by 0.9% in the 2nd 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 during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in shares of McKesson in the 2nd quarter worth about $166,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson News Summary

Here are the key news stories impacting McKesson this week:

• Negative Sentiment: CEO Brian Tyler sold 8,463 shares at an average price of $775.13 under a pre-arranged 10b5-1 plan. Even though the sale was planned, insider selling can still weigh on investor sentiment. Article Title
• Neutral Sentiment: McKesson continues to get attention for its Medical-Surgical Solutions carve-out and new financing tied to that unit, which investors may be reassessing after a strong earnings report and upbeat FY2027 guidance. Article Title
• Neutral Sentiment: The company recently announced a fiscal 2024 fourth-quarter earnings release date, a routine event that does not appear to be a major market driver on its own. Article Title

McKesson Price Performance

Shares of MCK stock opened at $750.23 on Friday. The business has a 50-day moving average of $787.94 and a 200 day moving average of $842.41. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The stock has a market capitalization of $87.84 billion, a PE ratio of 19.50, a P/E/G ratio of 1.24 and a beta of 0.31.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share 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 the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business's revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented 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. William Blair started coverage on McKesson in a research report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Bank of America reduced their target price on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a research report on Monday, April 6th. UBS Group upped their target price on McKesson from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Finally, Raymond James Financial set a $970.00 price target on McKesson in a report on Thursday, March 5th. Fourteen 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $960.53.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the transaction, the chief executive officer directly owned 14,382 shares of the company's stock, valued at approximately $11,147,919.66. The trade was a 37.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares of the company's stock, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 20,285 shares of company stock worth $15,546,137 over the last ninety days. 0.06% of the stock is owned by 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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