Northwestern Mutual Wealth Management Co. Grows Stock Position in McKesson Corporation $MCK

Key Points

• Northwestern Mutual Wealth Management boosted its McKesson stake by 403.1% in Q4, ending with 43,459 shares valued at about $35.6 million. Several other hedge funds also increased holdings, and institutional investors now own 85.07% of the stock.
• Insiders sold shares recently, including EVP Michele Lau and Director Maria Martinez, both reducing their positions significantly. Corporate insiders still own just 0.08% of McKesson shares.
• Analysts remain largely upbeat, with 14 Buy ratings and 3 Hold ratings, giving McKesson a consensus “Moderate Buy” rating and a price target of $968.87. The company also beat EPS estimates in its latest quarter and announced a quarterly dividend of $0.82 per share.

Northwestern Mutual Wealth Management Co. lifted its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 403.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,459 shares of the company's stock after acquiring an additional 34,820 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in McKesson were worth $35,649,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Left Brain Wealth Management LLC grew its stake in shares of McKesson by 39.0% during the 4th quarter. Left Brain Wealth Management LLC now owns 6,848 shares of the company's stock valued at $5,617,000 after acquiring an additional 1,923 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of McKesson by 2.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 16,222 shares of the company's stock valued at $13,365,000 after acquiring an additional 341 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of McKesson by 10.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 2,901 shares of the company's stock valued at $2,379,000 after acquiring an additional 281 shares during the period. Baader Bank Aktiengesellschaft grew its stake in shares of McKesson by 11.1% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 629 shares of the company's stock valued at $512,000 after acquiring an additional 63 shares during the period. Finally, Allworth Financial LP grew its stake in shares of McKesson by 1.7% during the 4th quarter. Allworth Financial LP now owns 5,896 shares of the company's stock valued at $4,836,000 after acquiring an additional 99 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In related news, EVP Michele Lau sold 2,725 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the sale, the executive vice president owned 3,247 shares in the company, valued at approximately $3,214,530. This represents a 45.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Maria Martinez sold 349 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the sale, the director owned 301 shares in the company, valued at $282,900.87. The trade was a 53.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCK. Citigroup cut their price objective on McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. Evercore reiterated an "outperform" rating on shares of McKesson in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Barclays upped their price target on McKesson from $960.00 to $1,050.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 18th. Finally, Wells Fargo & Company dropped their price target on McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and a consensus price target of $968.87.

McKesson Stock Performance

NYSE MCK opened at $775.38 on Tuesday. The company has a market capitalization of $93.20 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.13 and a beta of 0.35. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The stock has a 50 day moving average price of $851.72 and a 200-day moving average price of $857.32.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts' consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts predict that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Dividend Announcement

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