State Street Corp Raises Position in McKesson Corporation $MCK

State Street Corp raised its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,780,179 shares of the company's stock after purchasing an additional 29,660 shares during the period. State Street Corp owned 4.72% of McKesson worth $4,746,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MCK. Brighton Jones LLC grew its stake in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after buying an additional 798 shares during the last quarter. Caxton Associates LLP bought a new position in shares of McKesson during the first quarter valued at approximately $233,000. Sivia Capital Partners LLC grew its stake in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock valued at $502,000 after buying an additional 300 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock valued at $42,958,000 after buying an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of McKesson during the second quarter valued at approximately $166,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Down 0.4%

Shares of NYSE:MCK opened at $783.88 on Friday. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The stock has a market cap of $94.22 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.31. The business's 50 day moving average is $798.10 and its 200 day moving average is $846.35.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $96.30 billion for the quarter, compared to analysts' expectations of $101.35 billion. During the same quarter in the prior year, the firm earned $10.12 earnings per share. McKesson's revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MCK shares. Evercore reaffirmed an "outperform" rating on shares of McKesson in a research note on Thursday, March 5th. Wells Fargo & Company cut their target price on McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 12th. Leerink Partners reaffirmed an "outperform" rating and set a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. Weiss Ratings cut McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 18th. Finally, Barclays dropped their price objective on McKesson from $1,050.00 to $925.00 and set an "overweight" rating on the stock in a research note on Wednesday. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average target price of $960.53.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president owned 2,268 shares of the company's stock, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at $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. Insiders sold a total of 11,822 shares of company stock worth $8,986,212 over the last quarter. Insiders own 0.08% of the company's stock.

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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