HighPoint Advisor Group LLC Increases Holdings in McKesson Corporation $MCK

Key Points

• HighPoint Advisor Group boosted its McKesson stake by 40.6% in the fourth quarter, bringing its holdings to 5,983 shares valued at about $4.9 million.
• McKesson reported quarterly EPS of $11.69, beating estimates, while revenue rose 6.0% year over year to $96.3 billion. The company also reaffirmed strong forward guidance, with FY 2027 EPS guidance set at 43.8 to 44.6.
• The company declared a quarterly dividend of $0.82 per share, payable July 1, which works out to an annualized dividend of $3.28 and a yield of about 0.5%.

HighPoint Advisor Group LLC increased its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 40.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,983 shares of the company's stock after purchasing an additional 1,728 shares during the period. HighPoint Advisor Group LLC's holdings in McKesson were worth $4,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GGM Financials LLC purchased a new stake in McKesson during the 3rd quarter worth $25,000. State of Wyoming purchased a new stake in McKesson during the 2nd quarter worth $29,000. Hopwood Financial Services Inc. purchased a new stake in McKesson during the 3rd quarter worth $31,000. Board of the Pension Protection Fund purchased a new stake in McKesson during the 4th quarter worth $33,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in McKesson during the 3rd quarter worth $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. William Blair initiated coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an "outperform" rating for the company. TD Cowen upped their price target on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Leerink Partners reaffirmed an "outperform" rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Raymond James Financial set a $970.00 price target on shares of McKesson in a research report on Thursday, March 5th. Finally, Bank of America cut their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $970.73.

McKesson Price Performance

Shares of MCK stock opened at $724.87 on Tuesday. 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 $88.79 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.06 and a beta of 0.35. The company's fifty day moving average price is $874.21 and its two-hundred day moving average price is $859.12.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts' consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the previous year, the business posted $10.12 EPS. The firm's revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 44.25 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. McKesson's payout ratio is currently 8.53%.

Insiders Place Their Bets

In other news, Director Maria Martinez sold 349 shares of the company's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the sale, the director owned 301 shares in the company, valued at approximately $282,900.87. This represents a 53.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michele Lau sold 2,725 shares of the company's 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 trade represents a 45.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,264 shares of company stock worth $3,205,315 in the last quarter. 0.08% of the stock is owned by corporate insiders.

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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