Flputnam Investment Management Co. Has $36.21 Million Holdings in McKesson Corporation $MCK

Key Points

• Flputnam Investment Management increased its McKesson stake by 4.9% in the fourth quarter, bringing its holdings to 44,139 shares worth about $36.2 million.
• McKesson reported fiscal Q earnings of $11.69 per share, topping estimates, while revenue rose 6.0% year over year even though it came in below expectations.
• The company declared a quarterly dividend of $0.82 per share and continues to draw generally positive analyst sentiment, with an average rating of Moderate Buy and a consensus price target of $968.87.

Flputnam Investment Management Co. boosted its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,139 shares of the company's stock after buying an additional 2,069 shares during the quarter. Flputnam Investment Management Co.'s holdings in McKesson were worth $36,207,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. AlphaQuest LLC boosted its stake in McKesson by 71.2% in the fourth quarter. AlphaQuest LLC now owns 3,025 shares of the company's stock valued at $2,481,000 after buying an additional 1,258 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in McKesson by 11.3% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 504 shares of the company's stock valued at $413,000 after buying an additional 51 shares in the last quarter. Kestra Investment Management LLC boosted its stake in McKesson by 4.1% in the fourth quarter. Kestra Investment Management LLC now owns 2,224 shares of the company's stock valued at $1,824,000 after buying an additional 87 shares in the last quarter. Seaview Investment Managers LLC acquired a new stake in McKesson in the fourth quarter valued at about $8,019,000. Finally, Wellington Shields Capital Management LLC boosted its stake in McKesson by 1.4% in the fourth quarter. Wellington Shields Capital Management LLC now owns 7,779 shares of the company's stock valued at $6,381,000 after buying an additional 108 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 1.3%

Shares of MCK stock opened at $756.11 on Wednesday. The business's 50-day moving average price is $830.95 and its 200-day moving average price is $854.59. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm has a market capitalization of $90.89 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 1.14 and a beta of 0.35.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts' consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates 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 for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts predict that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed 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. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson's payout ratio is currently 8.53%.

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Bank of America cut their price target on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. TD Cowen lifted their price target on McKesson from $1,000.00 to $1,012.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Leerink Partners reissued an "outperform" rating and set a $1,085.00 price target on shares of McKesson in a research note on Thursday, March 5th. Finally, Wall Street Zen raised McKesson from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $968.87.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 2,725 shares of McKesson 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 transaction, the executive vice president directly owned 3,247 shares of the company's stock, valued at $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is currently 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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