Patriot Financial Group Insurance Agency LLC Raises Stock Holdings in McKesson Corporation $MCK

Key Points

• Patriot Financial Group Insurance Agency LLC boosted its McKesson stake by 118.2% in the first quarter, ending with 5,456 shares valued at about $4.72 million.
• McKesson’s latest quarterly results beat earnings expectations, reporting $11.69 EPS versus the $11.56 consensus, while revenue rose 6.0% year over year to $96.3 billion. The company also reaffirmed strong forward guidance, with FY 2027 EPS projected at 43.8 to 44.6.
• The company declared a quarterly dividend of $0.82 per share, and analysts remain broadly positive with a Moderate Buy consensus and an average price target of about $960.53, even as some insiders recently sold shares.

Patriot Financial Group Insurance Agency LLC raised its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 118.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,456 shares of the company's stock after acquiring an additional 2,955 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in McKesson were worth $4,721,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of McKesson during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in McKesson during the fourth quarter valued at approximately $26,000. State of Wyoming purchased a new stake in McKesson in the second quarter worth approximately $29,000. Board of the Pension Protection Fund purchased a new stake in McKesson in the fourth quarter worth approximately $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in McKesson in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They issued an "outperform" rating on the stock. Evercore reaffirmed an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. JPMorgan Chase & Co. reduced their price objective on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Finally, Wall Street Zen cut McKesson from a "buy" rating to a "hold" rating in a research report on Saturday. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $960.53.

McKesson Trading Up 0.1%

Shares of NYSE MCK opened at $764.38 on Monday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The firm has a market capitalization of $89.49 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 1.26 and a beta of 0.31. The firm has a 50 day moving average of $777.55 and a 200 day moving average of $840.59.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts predict that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson's dividend payout ratio (DPR) is currently 8.53%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the sale, the chief executive officer owned 14,382 shares in the company, valued at $11,147,919.66. This represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares of the company's stock, valued at approximately $482,848. The trade was 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. Insiders sold a total of 20,285 shares of company stock valued at $15,546,137 in the last 90 days. 0.06% of the stock is owned by company insiders.

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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