King Luther Capital Management Corp Has $33.18 Million Stock Holdings in McKesson Corporation $MCK

Key Points

• King Luther Capital Management increased its McKesson stake by 11.3% in the fourth quarter, bringing its holdings to 40,454 shares worth about $33.18 million.
• McKesson insiders and analysts showed mixed signals: EVP Michele Lau sold 2,725 shares, while analysts still largely remain bullish with a consensus rating of Moderate Buy.
• The company reported stronger-than-expected EPS in its latest quarter, though revenue came in below estimates; McKesson also announced a quarterly dividend of $0.82 per share.

King Luther Capital Management Corp raised its stake in McKesson Corporation (NYSE:MCK - Free Report) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,454 shares of the company's stock after acquiring an additional 4,114 shares during the period. King Luther Capital Management Corp's holdings in McKesson were worth $33,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. J.W. Cole Advisors Inc. raised its holdings in shares of McKesson by 35.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company's stock worth $3,931,000 after buying an additional 1,329 shares in the last quarter. Cullen Investment Group LTD. raised its holdings in shares of McKesson by 550.4% during the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company's stock worth $3,811,000 after buying an additional 3,952 shares in the last quarter. Private Wealth Partners LLC raised its holdings in shares of McKesson by 5.6% during the 3rd 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 in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of McKesson by 12.4% during the 3rd 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 in the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of McKesson by 91.2% during the 3rd quarter. AlphaQuest LLC now owns 1,767 shares of the company's stock worth $1,365,000 after buying an additional 843 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 2,725 shares of the company's 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 sale, the executive vice president owned 3,247 shares in the company, valued at approximately $3,214,530. The trade was a 45.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MCK shares. Bank of America lowered their price target on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a report on Monday, April 6th. Mizuho boosted 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. JPMorgan Chase & Co. lowered their price target on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Evercore reissued an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. Finally, Weiss Ratings cut McKesson from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and an average target price of $968.87.

McKesson Stock Down 1.3%

Shares of MCK opened at $756.11 on Wednesday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The business has a 50-day simple moving average of $830.95 and a two-hundred day simple moving average of $854.59. The stock has a market cap of $90.89 billion, a PE ratio of 19.65, a PEG ratio of 1.14 and a beta of 0.35.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the firm earned $10.12 EPS. The business'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, equities research analysts expect that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. 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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