Kovitz Investment Group Partners LLC Has $20.88 Million Position in McKesson Corporation $MCK

Key Points

• Kovitz Investment Group Partners LLC cut its McKesson stake by 48% in the fourth quarter, leaving it with 25,447 shares valued at about $20.88 million.
• McKesson has continued to draw generally positive analyst coverage, with 14 Buy ratings and 3 Hold ratings, giving it a consensus “Moderate Buy” rating and an average target price of $960.53.
• The company reported quarterly earnings of $11.69 per share, topping estimates, and it also announced a quarterly dividend of $0.82 per share payable July 1.

Kovitz Investment Group Partners LLC lessened its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 48.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,447 shares of the company's stock after selling 23,465 shares during the period. Kovitz Investment Group Partners LLC's holdings in McKesson were worth $20,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in McKesson in the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new stake in McKesson in the fourth quarter valued at $26,000. GGM Financials LLC acquired a new position in McKesson during the third quarter worth $25,000. State of Wyoming acquired a new position in McKesson during the second quarter worth $29,000. Finally, Board of the Pension Protection Fund acquired a new position in McKesson during the fourth quarter worth $33,000. Institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an "outperform" rating on the stock. Leerink Partners reiterated an "outperform" rating and set a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. Barclays cut their price target on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a report on Wednesday, June 10th. Raymond James Financial set a $970.00 price target on shares of McKesson in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. decreased their price objective 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 issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $960.53.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the transaction, the chief executive officer directly owned 14,382 shares in the company, valued at approximately $11,147,919.66. This represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 20,285 shares of company stock valued at $15,546,137. Insiders own 0.08% of the company's stock.

McKesson Stock Performance

Shares of MCK stock opened at $750.23 on Friday. The stock's fifty day moving average is $790.35 and its 200-day moving average is $843.06. The stock has a market capitalization of $87.84 billion, a PE ratio of 19.50, a PEG ratio of 1.28 and a beta of 0.31. McKesson Corporation has a 52 week low of $637.00 and a 52 week 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 (EPS) for the quarter, beating analysts' consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.82 dividend. 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 payout ratio is currently 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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