Rathbones Group PLC Has $33.78 Million Position in McKesson Corporation $MCK

Key Points

• Rathbones Group PLC cut its McKesson stake by 26.2% in the fourth quarter, selling 14,594 shares and leaving it with 41,175 shares worth about $33.8 million.
• Wall Street remains constructive on McKesson, with 14 analysts rating it a Buy and three Hold ratings, and a consensus price target of $968.87 despite some recent target cuts.
• McKesson topped earnings expectations in its latest quarter with $11.69 EPS versus $11.56 expected, while revenue rose 6% year over year to $96.3 billion.

Rathbones Group PLC lowered its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 26.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,175 shares of the company's stock after selling 14,594 shares during the period. Rathbones Group PLC's holdings in McKesson were worth $33,775,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. J.W. Cole Advisors Inc. lifted its stake in shares of McKesson by 35.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company's stock valued at $3,931,000 after purchasing an additional 1,329 shares during the last quarter. Cullen Investment Group LTD. lifted its stake in shares of McKesson by 550.4% in the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company's stock valued at $3,811,000 after purchasing an additional 3,952 shares during the last quarter. Private Wealth Partners LLC lifted its stake in shares of McKesson by 5.6% in the 3rd quarter. Private Wealth Partners LLC now owns 31,841 shares of the company's stock valued at $24,598,000 after purchasing an additional 1,682 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of McKesson by 12.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company's stock valued at $255,438,000 after purchasing an additional 36,451 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of McKesson by 91.2% in the 3rd quarter. AlphaQuest LLC now owns 1,767 shares of the company's stock valued at $1,365,000 after purchasing an additional 843 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MCK. Weiss Ratings lowered shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Wells Fargo & Company cut their target price on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 12th. Raymond James Financial set a $970.00 target price on shares of McKesson in a research report on Thursday, March 5th. Finally, Leerink Partners reissued an "outperform" rating and set a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus target price of $968.87.

McKesson Price Performance

McKesson stock opened at $755.39 on Thursday. The firm has a market cap of $90.80 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.14 and a beta of 0.35. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm has a fifty day moving average price of $844.88 and a two-hundred day moving average price of $856.50.

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 analysts' consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Activity at McKesson

In other news, EVP Michele Lau sold 2,725 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president owned 3,247 shares of the company's stock, valued at approximately $3,214,530. This represents a 45.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.08% 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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