Eastern Bank Sells 17,975 Shares of McKesson Corporation $MCK

Key Points

• Eastern Bank cut its McKesson stake by 98.2% in the second quarter, selling 17,975 shares and retaining 322 shares valued at approximately $243,000. Institutional investors collectively own 85.07% of the company.
• McKesson exceeded quarterly expectations with adjusted earnings of $9.93 per share and revenue of $105.38 billion, while revenue grew 7.7% year over year. The company raised fiscal 2027 adjusted EPS guidance to $44.20–$45.00.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $962.67. McKesson also raised its quarterly dividend to $0.94 per share, implying a 0.4% annual yield.

Eastern Bank lessened its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 98.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 322 shares of the company's stock after selling 17,975 shares during the quarter. Eastern Bank's holdings in McKesson were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MCK. Horizon Investments LLC boosted its stake in McKesson by 125.4% during the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company's stock valued at $7,119,000 after purchasing an additional 4,828 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of McKesson by 18.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company's stock worth $25,860,000 after purchasing an additional 4,964 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of McKesson by 62.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company's stock worth $2,590,000 after purchasing an additional 1,219 shares during the last quarter. Adelphi Trust Co bought a new position in shares of McKesson during the fourth quarter valued at $1,177,000. Finally, Merit Financial Group LLC lifted its holdings in shares of McKesson by 12.3% during the fourth quarter. Merit Financial Group LLC now owns 20,448 shares of the company's stock valued at $16,774,000 after purchasing an additional 2,238 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Citigroup upped their target price on shares of McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a research note on Friday, July 24th. UBS Group raised their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a report on Friday, May 8th. Wall Street Zen lowered shares of McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Finally, TD Cowen reduced their price target on shares of McKesson from $1,012.00 to $989.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $962.67.

McKesson Price Performance

Shares of MCK opened at $874.01 on Thursday. The firm has a market capitalization of $102.33 billion, a P/E ratio of 22.72, a PEG ratio of 1.37 and a beta of 0.30. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The business has a fifty day moving average of $795.78 and a 200 day moving average of $840.54.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.McKesson's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson's payout ratio is 9.77%.

More McKesson News

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson delivered adjusted earnings of $9.93 per share, above analyst estimates ranging from $9.44 to $9.56 and up from $8.26 a year earlier. Revenue reached $105.38 billion, exceeding the $103.88 billion consensus estimate and rising 7.7% year over year. McKesson fiscal 2027 first-quarter earnings report
• Positive Sentiment: The company raised its fiscal 2027 adjusted EPS guidance to $44.20-$45.00. The midpoint is above the current analyst consensus of approximately $44.27, suggesting management expects continued earnings growth. McKesson Reports Fiscal 2027 First Quarter Results and Raises Full Year Adjusted EPS Guidance
• Positive Sentiment: Strong quarterly execution and the higher profit outlook reinforce the view that demand for McKesson’s pharmaceutical distribution and healthcare services remains resilient. Barron’s also identified McKesson among healthcare stocks with potential long-term upside as investor interest in the sector improves. Healthcare Stocks Have Been Forgotten

Insider Buying and Selling at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The sale 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, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction that occurred 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 in the company, valued at $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is owned by corporate 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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