Jefferies Financial Group Inc. Sells 7,680 Shares of McKesson Corporation $MCK

Key Points

• Jefferies Financial Group cut its McKesson stake by 52.3% in the fourth quarter, selling 7,680 shares and ending with 7,013 shares valued at about $5.75 million.
• Analysts remain broadly positive on McKesson, with 14 Buy ratings and 3 Hold ratings. The average price target is $968.87, even after several firms trimmed their targets.
• McKesson reported strong quarterly EPS of $11.69, beating estimates, and it also declared a quarterly dividend of $0.82 per share, payable July 1.

Jefferies Financial Group Inc. lessened its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 52.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,013 shares of the company's stock after selling 7,680 shares during the quarter. Jefferies Financial Group Inc.'s holdings in McKesson were worth $5,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in McKesson by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock valued at $1,855,000 after purchasing an additional 11 shares in the last quarter. Obsidian Personal Planning Solutions LLC raised its stake in McKesson by 2.9% in the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company's stock valued at $346,000 after purchasing an additional 12 shares in the last quarter. LRI Investments LLC raised its stake in McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after purchasing an additional 12 shares in the last quarter. Macroview Investment Management LLC raised its stake in McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after purchasing an additional 12 shares in the last quarter. Finally, Berkshire Asset Management LLC PA raised its stake in McKesson by 4.6% in the third quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company's stock valued at $227,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 18th. Citigroup lowered their target price on shares of McKesson from $975.00 to $945.00 and set a "buy" rating on the stock in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Raymond James Financial set a $970.00 price target on shares of McKesson in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $968.87.

Insider Activity

In other news, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction dated 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 completion of the transaction, the executive vice president owned 3,247 shares of the company's stock, valued at $3,214,530. The trade was a 45.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Down 0.1%

NYSE:MCK opened at $765.30 on Tuesday. The stock has a market cap of $91.99 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.14 and a beta of 0.35. The firm's fifty day simple moving average is $834.66 and its 200 day simple moving average is $855.23. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to analysts' expectations of $101.35 billion. During the same quarter in the previous year, the business posted $10.12 earnings per share. The firm's revenue for the quarter 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, analysts expect that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend 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%.

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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