Global Wealth Management Investment Advisory Inc. Purchases New Position in McKesson Corporation $MCK

Key Points

• Global Wealth Management Investment Advisory Inc. opened a new position in McKesson during the fourth quarter, buying 4,312 shares valued at about $3.54 million.
• Analysts remain broadly positive on McKesson, with 14 Buy ratings and a consensus Moderate Buy rating. The average price target is $963.20, with firms like Barclays and Deutsche Bank reiterating upbeat views.
• McKesson reported Q1 EPS of $11.69, topping estimates, and also announced a quarterly dividend of $0.82 per share payable on July 1. Insider selling continued recently, including sales by EVPs Leann B. Smith and Michele Lau.

Global Wealth Management Investment Advisory Inc. purchased a new stake in McKesson Corporation (NYSE:MCK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,312 shares of the company's stock, valued at approximately $3,537,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. J.W. Cole Advisors Inc. raised its holdings in shares of McKesson by 35.3% in the third quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company's stock valued at $3,931,000 after buying an additional 1,329 shares during the last quarter. Cullen Investment Group LTD. increased its stake in shares of McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company's stock worth $3,811,000 after acquiring an additional 3,952 shares during the period. Private Wealth Partners LLC grew its position in McKesson by 5.6% during the third quarter. Private Wealth Partners LLC now owns 31,841 shares of the company's stock worth $24,598,000 after buying an additional 1,682 shares during the period. AlphaQuest LLC grew its position in McKesson by 91.2% during the third quarter. AlphaQuest LLC now owns 1,767 shares of the company's stock worth $1,365,000 after buying an additional 843 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in McKesson by 12.4% during the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company's stock worth $255,438,000 after buying an additional 36,451 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MCK. Evercore reiterated an "outperform" rating on shares of McKesson in a research report on Thursday, March 5th. Barclays upped their price objective on shares of McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $875.00 price target on shares of McKesson in a research note on Friday. Bank of America cut their price target on shares of 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. Finally, Robert W. Baird set a $968.00 target price on shares of McKesson in a research note on Wednesday, January 14th. 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 has a consensus rating of "Moderate Buy" and an average price target of $963.20.

Insider Activity

In other news, EVP Leann B. Smith sold 190 shares of McKesson stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total value of $179,550.00. Following the completion of the transaction, the executive vice president directly owned 2,989 shares of the company's stock, valued at approximately $2,824,605. The trade was a 5.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at approximately $3,214,530. This represents a 45.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 3,264 shares of company stock valued at $3,205,315. Company insiders own 0.08% of the company's stock.

McKesson Price Performance

Shares of MCK stock opened at $735.20 on Wednesday. The firm has a market cap of $88.37 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.08 and a beta of 0.35. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The firm has a fifty day moving average of $869.22 and a two-hundred day moving average of $858.69.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts expect that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. 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 8.53%.

McKesson 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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