Global Retirement Partners LLC Grows Stock Position in McKesson Corporation $MCK

Key Points

• Global Retirement Partners LLC increased its McKesson stake by 51.6% in the fourth quarter, buying 1,497 additional shares and bringing its total to 4,400 shares worth about $3.61 million.
• Other institutional investors also added to McKesson, and about 85.07% of the stock is now owned by hedge funds and other institutions.
• McKesson reported better-than-expected earnings of $11.69 per share, raised its FY 2027 guidance, and announced a quarterly dividend of $0.82 per share payable on July 1.

Global Retirement Partners LLC boosted its position in McKesson Corporation (NYSE:MCK - Free Report) by 51.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,400 shares of the company's stock after buying an additional 1,497 shares during the quarter. Global Retirement Partners LLC's holdings in McKesson were worth $3,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Algebris UK Ltd. increased its position in McKesson by 7.9% in the fourth quarter. Algebris UK Ltd. now owns 1,786 shares of the company's stock worth $1,466,000 after buying an additional 131 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC increased its position in McKesson by 25.7% in the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 367 shares of the company's stock worth $301,000 after buying an additional 75 shares during the last quarter. MJP Associates Inc. ADV boosted its holdings in shares of McKesson by 29.2% in the fourth quarter. MJP Associates Inc. ADV now owns 443 shares of the company's stock worth $363,000 after acquiring an additional 100 shares during the period. Leonteq Securities AG bought a new position in shares of McKesson in the fourth quarter worth $1,428,000. Finally, ABN Amro Investment Solutions boosted its holdings in shares of McKesson by 236.6% in the fourth quarter. ABN Amro Investment Solutions now owns 7,069 shares of the company's stock worth $5,799,000 after acquiring an additional 4,969 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michele Lau sold 2,725 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

McKesson Stock Down 0.2%

McKesson stock opened at $765.30 on Friday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The business has a 50-day simple moving average of $838.23 and a 200 day simple moving average of $855.53. The stock has a market cap of $91.99 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.14 and a beta of 0.35.

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. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. During the same period in the previous year, the business earned $10.12 earnings per share. The firm's revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, research analysts anticipate that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson's payout ratio is presently 8.53%.

Analysts Set New Price Targets

A number of research firms have recently commented on MCK. Citigroup cut their price target on McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a report on Thursday, May 14th. TD Cowen raised their price target on McKesson from $1,000.00 to $1,012.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. Barclays raised their price target on McKesson from $960.00 to $1,050.00 and gave the stock an "overweight" rating in a report on Wednesday, February 18th. Raymond James Financial set a $970.00 price target on McKesson in a report on Thursday, March 5th. Finally, Mizuho raised their price target on McKesson from $880.00 to $885.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.