McKesson Corporation $MCK Stock Holdings Lessened by Burney Co.

Key Points

• Burney Co. cut its McKesson stake by 30% in the first quarter, leaving it with 39,467 shares valued at about $34.2 million. McKesson remained Burney’s 10th-largest holding and made up 1.1% of its portfolio.
• McKesson insiders have been selling shares, including CEO Brian S. Tyler, who sold 8,463 shares for about $6.56 million. Over the last three months, insiders sold 20,285 shares worth roughly $15.5 million.
• The company posted mixed fundamentals: quarterly EPS of $11.69 beat estimates, but revenue came in below expectations. McKesson also paid a quarterly dividend of $0.82 per share, and analysts currently rate the stock a “Moderate Buy” with an average target price of $960.53.

Burney Co. trimmed its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,467 shares of the company's stock after selling 16,889 shares during the period. McKesson comprises 1.1% of Burney Co.'s portfolio, making the stock its 10th largest position. Burney Co.'s holdings in McKesson were worth $34,153,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MCK. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock worth $1,855,000 after buying an additional 11 shares during the last quarter. Investment Research Partners LLC raised its holdings in shares of McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock valued at $1,332,000 after acquiring an additional 11 shares in the last quarter. IHT Wealth Management LLC lifted its stake in McKesson by 0.9% in the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company's stock worth $981,000 after acquiring an additional 11 shares during the period. LRI Investments LLC lifted its stake in McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company's stock worth $91,000 after acquiring an additional 12 shares during the period. Finally, Macroview Investment Management LLC boosted its holdings in McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after acquiring an additional 12 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the sale, the chief executive officer owned 14,382 shares of the company's stock, valued at $11,147,919.66. The trade was a 37.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company's stock in a transaction dated Friday, June 5th. The stock was 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 owned 632 shares in the company, valued at approximately $482,848. This trade represents a 17.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 20,285 shares of company stock worth $15,546,137. Insiders own 0.06% of the company's stock.

McKesson Trading Down 0.2%

MCK opened at $784.75 on Tuesday. The stock has a fifty day simple moving average of $769.23 and a two-hundred day simple moving average of $839.09. The company has a market cap of $91.88 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS 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 analyst estimates of $101.35 billion. During the same quarter last year, the firm posted $10.12 earnings per share. The company's revenue for the quarter 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, analysts predict that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson's dividend payout ratio (DPR) is 8.53%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. Bank of America dropped their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Weiss Ratings cut shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. Finally, Wall Street Zen downgraded shares of McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $960.53.

McKesson Company 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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