McKesson Corporation $MCK Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its McKesson stake by 99.2% in the third quarter, selling 52,820 shares and retaining 401 shares valued at approximately $342,000. Institutional investors collectively own 85.07% of the company.
• McKesson reported quarterly earnings of $9.93 per share, exceeding estimates of $9.56, while revenue rose 7.7% year over year to $105.38 billion. The company also increased its quarterly dividend from $0.82 to $0.94 per share.
• Analysts remain broadly positive, with 15 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and a $990.35 price target. McKesson shares opened at $1,005.39, near their 52-week high of $1,014.99.

Curated Wealth Partners LLC cut its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 99.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401 shares of the company's stock after selling 52,820 shares during the period. Curated Wealth Partners LLC's holdings in McKesson were worth $342,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of McKesson in the 2nd quarter valued at about $8,156,743,000. Bank of America Corp DE raised its position in shares of McKesson by 2.4% during the 1st quarter. Bank of America Corp DE now owns 1,538,726 shares of the company's stock worth $1,331,552,000 after acquiring an additional 35,916 shares in the last quarter. Swedbank AB raised its position in shares of McKesson by 13.5% during the 1st quarter. Swedbank AB now owns 1,005,610 shares of the company's stock worth $870,215,000 after acquiring an additional 119,327 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of McKesson by 3.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company's stock worth $697,096,000 after acquiring an additional 29,747 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in McKesson during the second quarter worth approximately $656,566,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the sale, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. This represents a 17.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. Insiders own 0.06% of the company's stock.

McKesson Stock Up 0.7%

NYSE:MCK opened at $1,005.39 on Friday. The company has a market capitalization of $117.22 billion, a PE ratio of 26.90, a P/E/G ratio of 2.00 and a beta of 0.30. McKesson Corporation has a 52-week low of $723.68 and a 52-week high of $1,014.99. The stock's 50 day moving average price is $897.66 and its 200 day moving average price is $837.50.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts anticipate that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio is presently 10.06%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MCK shares. Robert W. Baird set a $1,015.00 price target on McKesson in a report on Thursday, August 6th. Wells Fargo & Company increased their price target on shares of McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 11th. Citigroup raised their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Wall Street Zen upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Argus boosted their price objective on shares of McKesson from $850.00 to $970.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and a consensus target price of $990.35.

McKesson Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson's principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.

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