Xponance LLC Grows Stock Position in McKesson Corporation $MCK

Key Points

• Xponance LLC increased its McKesson stake by 6.5% in the fourth quarter, adding 2,495 shares and bringing its total to 40,926 shares valued at about $33.6 million.
• Several McKesson insiders sold shares recently, including EVP Michele Lau and CEO Brian S. Tyler, with insiders selling 11,822 shares worth about $9.0 million over the last 90 days.
• McKesson reported better-than-expected quarterly EPS of $11.69 and also declared a quarterly dividend of $0.82 per share, while analysts remain broadly positive with a consensus Moderate Buy rating.

Xponance LLC raised its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,926 shares of the company's stock after buying an additional 2,495 shares during the period. Xponance LLC's holdings in McKesson were worth $33,571,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. raised its stake in 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 purchasing an additional 11 shares in the last quarter. Obsidian Personal Planning Solutions LLC raised its stake in McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company's stock worth $346,000 after purchasing an additional 12 shares in the last quarter. LRI Investments LLC raised its stake in McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company's stock worth $91,000 after purchasing an additional 12 shares in the last quarter. Macroview Investment Management LLC raised its stake in McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock worth $264,000 after purchasing an additional 12 shares in the last quarter. Finally, Berkshire Asset Management LLC PA raised its stake in McKesson by 4.6% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company's stock worth $227,000 after purchasing an additional 13 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares of the company's stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the sale, the chief executive officer directly owned 22,845 shares in the company, valued at $17,430,735. The trade was a 17.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 11,822 shares of company stock valued at $8,986,212. 0.08% of the stock is owned by insiders.

McKesson Trading Down 0.3%

Shares of McKesson stock opened at $788.44 on Friday. The firm has a market capitalization of $94.77 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.30 and a beta of 0.31. The firm's 50 day moving average is $799.89 and its 200 day moving average is $846.79. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for 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 was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current 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. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson's payout ratio is 8.53%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group lifted their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Barclays decreased their target price on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating on the stock in a report on Wednesday. Citigroup decreased their target price on shares of McKesson from $975.00 to $945.00 and set a "buy" rating on the stock in a report on Thursday, May 14th. Finally, William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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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