Cumberland Partners Ltd Sells 2,415 Shares of McKesson Corporation $MCK

Key Points

• Cumberland Partners Ltd cut its McKesson stake by 23.1% in the fourth quarter, selling 2,415 shares and ending with 8,025 shares valued at about $6.6 million.
• McKesson reported Q1 earnings of $11.69 per share, beating estimates, while revenue came in below expectations at $96.3 billion despite rising 6% year over year.
• The company announced a quarterly dividend of $0.82 per share, and analysts remain broadly positive with a Moderate Buy consensus and an average target price of $968.87.

Cumberland Partners Ltd decreased its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 23.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,025 shares of the company's stock after selling 2,415 shares during the period. Cumberland Partners Ltd's holdings in McKesson were worth $6,583,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC raised its position in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock worth $1,438,000 after acquiring an additional 798 shares in the last quarter. Caxton Associates LLP bought a new position in shares of McKesson in the 1st quarter worth approximately $233,000. Sivia Capital Partners LLC raised its position in shares of McKesson by 77.9% in 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 raised its position 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 acquiring an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of McKesson in the 2nd quarter worth approximately $166,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Down 0.2%

McKesson stock opened at $765.30 on Friday. The company has a market capitalization of $91.99 billion, a P/E ratio of 19.89, a PEG ratio of 1.14 and a beta of 0.35. The stock's 50 day moving average is $838.23 and its 200 day moving average is $855.53. McKesson Corporation has a twelve month low of $637.00 and a twelve month 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 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for 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 firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts expect that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.4%. McKesson's dividend payout ratio is presently 8.53%.

Insider Buying and Selling at McKesson

In related news, EVP Michele Lau sold 2,725 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total value of $2,697,750.00. Following the sale, the executive vice president owned 3,247 shares in the company, valued at $3,214,530. This represents a 45.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research reports. Leerink Partners reissued an "outperform" rating and issued a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Evercore reissued an "outperform" rating on shares of McKesson in a research report on Thursday, March 5th. Weiss Ratings lowered McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday. Finally, TD Cowen increased their target price on McKesson from $1,000.00 to $1,012.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $968.87.

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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