Marietta Investment Partners LLC Increases Stock Holdings in McKesson Corporation $MCK

Key Points

• Marietta Investment Partners boosted its McKesson stake by 404.4% in the first quarter, buying 5,051 additional shares and bringing its total to 6,300 shares worth about $5.45 million.
• Insiders have been selling McKesson stock recently, including EVP Thomas L. Rodgers and CAO Napoleon B. Rutledge Jr.; over the last 90 days, insiders sold 20,285 shares valued at about $15.5 million.
• Analysts remain generally positive on McKesson, with a consensus rating of Moderate Buy and an average price target of $960.53, while the company also reported better-than-expected EPS in its latest quarterly results.

Marietta Investment Partners LLC increased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 404.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,300 shares of the company's stock after purchasing an additional 5,051 shares during the quarter. McKesson accounts for 1.1% of Marietta Investment Partners LLC's holdings, making the stock its 29th biggest holding. Marietta Investment Partners LLC's holdings in McKesson were worth $5,452,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. purchased a new stake in shares of McKesson in the fourth quarter valued at $26,000. State of Wyoming purchased a new stake in shares of McKesson in the second quarter valued at $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of McKesson in the 3rd quarter worth about $33,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of McKesson in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the sale, the executive vice president directly owned 3,090 shares in the company, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. The trade was a 17.39% 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 90 days, insiders have sold 20,285 shares of company stock valued at $15,546,137. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MCK shares. Weiss Ratings downgraded shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. William Blair began coverage on McKesson in a research report on Tuesday, April 28th. They set an "outperform" rating for the company. JPMorgan Chase & Co. cut their target price on 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. Wall Street Zen downgraded McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Finally, UBS Group increased their price target on McKesson from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $960.53.

McKesson Price Performance

Shares of MCK opened at $786.17 on Monday. The firm has a market capitalization of $92.05 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.29 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The company has a 50-day moving average of $769.23 and a 200 day moving average of $839.09.

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 the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $0.82 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio is 8.53%.

About McKesson

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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