Kingsview Wealth Management LLC Acquires 2,527 Shares of McKesson Corporation $MCK

Key Points

• Kingsview Wealth Management increased its McKesson stake by 77.1% in the fourth quarter, buying 2,527 additional shares and bringing its total position to 5,805 shares worth about $4.76 million.
• Several McKesson insiders sold shares recently, including EVP Thomas L. Rodgers and EVP Michele Lau, with a combined 8,663 shares sold over the last 90 days worth about $7.2 million.
• McKesson reported strong quarterly earnings and continued to pay a dividend, posting EPS of $11.69 versus estimates of $11.56 and announcing a quarterly dividend of $0.82 per share, payable July 1.

Kingsview Wealth Management LLC raised its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 77.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,805 shares of the company's stock after purchasing an additional 2,527 shares during the quarter. Kingsview Wealth Management LLC's holdings in McKesson were worth $4,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its position in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the period. Caxton Associates LLP bought a new position in McKesson during the first quarter valued at $233,000. Sivia Capital Partners LLC increased its position in McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock valued at $502,000 after acquiring an additional 300 shares during the last quarter. Treasurer of the State of North Carolina increased its position in McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock valued at $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson during the second quarter valued at $166,000. Institutional investors own 85.07% of the company's stock.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares of the company's stock, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 8,663 shares of company stock worth $7,217,102. Corporate insiders own 0.08% of the company's stock.

McKesson Trading Down 2.0%

NYSE:MCK opened at $741.47 on Friday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The company has a market cap of $89.13 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.13 and a beta of 0.35. The stock has a fifty day simple moving average of $819.93 and a 200-day simple moving average of $852.44.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts' consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion for 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 company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts predict that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on MCK shares. Weiss Ratings cut shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. 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 research report on Monday, April 6th. UBS Group boosted their target price on McKesson from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Evercore restated an "outperform" rating on shares of McKesson in a research report on Thursday, March 5th. Finally, Barclays boosted their target price on McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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