McKesson Corporation $MCK Shares Sold by QRG Capital Management Inc.

Key Points

• QRG Capital Management reduced its McKesson stake by 20.4% in the second quarter, selling 2,029 shares and retaining 7,895 shares worth approximately $5.97 million. Institutional investors and hedge funds collectively own 85.07% of MCK.
• McKesson reported quarterly EPS of $9.93 and revenue of $105.38 billion, exceeding analyst expectations; revenue increased 7.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $973.44.
• The company raised its quarterly dividend from $0.82 to $0.94 per share, equivalent to an annualized $3.76 payout and a 0.4% yield. Insiders, including CEO Brian Tyler, have sold shares recently, while insider ownership remains very low at 0.06%.

QRG Capital Management Inc. trimmed its stake in McKesson Corporation (NYSE:MCK - Free Report) by 20.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,895 shares of the company's stock after selling 2,029 shares during the period. QRG Capital Management Inc.'s holdings in McKesson were worth $5,965,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MCK. BlackRock Inc. purchased a new stake in McKesson in the second quarter valued at approximately $8,156,743,000. State Street Corp boosted its position in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company's stock worth $4,746,118,000 after buying an additional 29,660 shares during the period. Geode Capital Management LLC boosted its position in shares of McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company's stock worth $2,333,520,000 after buying 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 valued at $2,318,102,000 after buying an additional 144,633 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of McKesson in the fourth quarter valued at $1,651,137,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other news, Director Bradley Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Tyler sold 8,463 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company's stock, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. 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 8,875 shares of company stock valued at $7,083,441 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson reported 8% year-over-year revenue growth in the first quarter, reinforcing the company’s ongoing expansion and supporting the investment case for MCK. McKesson stock reports 8 percent revenue growth in Q1
• Positive Sentiment: Recent coverage said McKesson’s earnings guidance supports its valuation. The company’s latest reported quarter also exceeded consensus estimates for both earnings and revenue, with EPS up from the year-earlier period. McKesson stock gains as earnings guidance supports valuation
• Positive Sentiment: Analysts continue to characterize MCK as a potentially attractive value stock, which may provide support after the recent pullback. Here's Why McKesson is a Strong Value Stock

McKesson Trading Down 1.5%

McKesson stock opened at $867.30 on Friday. McKesson Corporation has a twelve month low of $715.31 and a twelve month high of $999.00. The stock's fifty day simple moving average is $874.67 and its 200-day simple moving average is $835.53. The firm has a market capitalization of $101.12 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.77 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion for 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 company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts predict that McKesson Corporation will post 44.64 earnings per share for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is an increase from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio is 10.06%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MCK shares. UBS Group boosted their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Royal Bank Of Canada restated a "sector perform" rating and set a $845.00 target price on shares of McKesson in a report on Monday, September 14th. Weiss Ratings raised McKesson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, September 4th. Wells Fargo & Company boosted their price target on shares of McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley reissued an "overweight" rating on shares of McKesson in a research report on Friday, August 7th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $973.44.

About McKesson

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company's businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.

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