McKesson Corporation $MCK Shares Purchased by Bogart Wealth LLC

Key Points

• Bogart Wealth LLC sharply increased its McKesson stake in the first quarter, boosting holdings by 7,040.8% to 8,569 shares valued at about $7.4 million.
• McKesson insiders were net sellers, with EVP Thomas L. Rodgers and CAO Napoleon B. Rutledge Jr. both reducing their positions; insiders sold 20,285 shares worth about $15.5 million over the last quarter.
• Analysts remain mostly constructive on the stock, with 14 Buy ratings and 3 Hold ratings, while the consensus price target sits at $960.53 despite a recent downgrade from Wall Street Zen to Hold.

Bogart Wealth LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 7,040.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,569 shares of the company's stock after purchasing an additional 8,449 shares during the period. Bogart Wealth LLC's holdings in McKesson were worth $7,415,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MCK. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock valued at $1,855,000 after buying an additional 11 shares during the period. Investment Research Partners LLC raised its position in shares of McKesson by 0.7% in the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock worth $1,332,000 after buying an additional 11 shares during the period. IHT Wealth Management LLC boosted its holdings in McKesson by 0.9% in the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company's stock valued at $981,000 after acquiring an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC boosted its holdings 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 acquiring an additional 12 shares during the last quarter. Finally, LRI Investments LLC grew its position in McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 completion of the sale, the chief accounting officer directly owned 632 shares of the company's stock, valued at $482,848. This trade represents 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 quarter, insiders sold 20,285 shares of company stock valued at $15,546,137. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an "outperform" rating on the stock. Bank of America decreased their target price 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. Wall Street Zen downgraded shares of McKesson from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Finally, Citigroup cut their price target on shares of McKesson from $975.00 to $945.00 and set a "buy" rating on the stock in a report on Thursday, May 14th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and an average target price of $960.53.

McKesson Trading Down 0.0%

Shares of NYSE MCK opened at $786.17 on Monday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The company has a market cap of $92.05 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.29 and a beta of 0.31. The stock has a fifty day moving average price of $769.23 and a 200 day moving average price of $839.09.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 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 company 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 firm posted $10.12 earnings per share. The firm's quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson's dividend payout ratio (DPR) is presently 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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