Focus Partners Wealth Grows Position in McKesson Corporation $MCK

Key Points

• Focus Partners Wealth increased its McKesson stake by 33.4% in the fourth quarter, ending with 90,962 shares valued at about $74.6 million.
• Several insiders have sold shares recently, including EVP Michele Lau and CEO Brian S. Tyler; insiders sold a total of 11,822 shares worth about $9.0 million over the last three months.
• Analysts remain generally positive on McKesson, with a Moderate Buy consensus and an average price target of $960.53, while the company also reported quarterly EPS above expectations and declared a $0.82 per share dividend.

Focus Partners Wealth raised its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 33.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,962 shares of the company's stock after purchasing an additional 22,781 shares during the quarter. Focus Partners Wealth owned approximately 0.07% of McKesson worth $74,563,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Swiss RE Ltd. purchased a new position in McKesson in the 4th quarter valued at approximately $26,000. GGM Financials LLC bought a new stake in McKesson during the 3rd quarter valued at $25,000. State of Wyoming bought a new stake in McKesson during the 2nd quarter valued at $29,000. Board of the Pension Protection Fund bought a new position in shares of McKesson in the fourth quarter worth $33,000. Finally, Kingdom Financial Group LLC. bought a new position in shares of McKesson in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In other McKesson news, EVP Michele Lau sold 3,550 shares of McKesson 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 $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the completion of the transaction, the chief executive officer directly owned 22,845 shares of the company's stock, valued at approximately $17,430,735. This represents a 17.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 over the last three months. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays reduced their price target on McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a research report on Wednesday, June 10th. Leerink Partners restated an "outperform" rating and issued a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. Evercore reaffirmed an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. Wells Fargo & Company decreased their price target on McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. Finally, Citigroup lowered their price target on shares of McKesson from $975.00 to $945.00 and set a "buy" rating on the stock in a report on Thursday, May 14th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $960.53.

McKesson Stock Performance

McKesson stock opened at $783.88 on Monday. The stock has a market cap of $94.22 billion, a P/E ratio of 20.38, a PEG ratio of 1.29 and a beta of 0.31. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm's fifty day moving average price is $798.10 and its 200-day moving average price is $846.19.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm's revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. 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 payout ratio is presently 8.53%.

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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