McKesson Corporation $MCK Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its position in McKesson Corporation (NYSE:MCK - Free Report) by 17.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,301 shares of the company's stock after selling 1,519 shares during the quarter. Gabelli Funds LLC's holdings in McKesson were worth $6,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MCK. Vanguard Group Inc. increased its position in McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company's stock valued at $9,929,380,000 after acquiring an additional 73,109 shares during the period. State Street Corp boosted its position in McKesson by 0.5% during the 4th quarter. State Street Corp now owns 5,780,179 shares of the company's stock worth $4,746,118,000 after acquiring an additional 29,660 shares during the period. Geode Capital Management LLC boosted its position in McKesson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company's stock worth $2,333,520,000 after acquiring an additional 25,082 shares during the period. Franklin Resources Inc. grew its stake in shares of McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company's stock worth $2,318,102,000 after purchasing an additional 144,633 shares in the last quarter. Finally, Norges Bank bought a new position in shares of McKesson in the fourth quarter worth $1,651,137,000. Institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut 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. Wall Street Zen lowered shares of McKesson from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. UBS Group boosted their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Weiss Ratings lowered shares of McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $962.67.

McKesson Stock Up 1.2%

Shares of McKesson stock opened at $850.94 on Tuesday. The firm has a market cap of $99.63 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.38 and a beta of 0.31. The business has a fifty day simple moving average of $781.55 and a 200-day simple moving average of $838.73. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. During the same quarter last year, the business posted $10.12 earnings per share. The company'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. Analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be 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 is Tuesday, September 1st. This is an increase from McKesson's previous quarterly dividend of $0.82. McKesson's payout ratio is presently 9.77%.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. This represents 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. Insiders have sold 28,748 shares of company stock valued at $22,262,035 over the last quarter. Company insiders own 0.06% of the company's stock.

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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