McKesson Corporation $MCK Position Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in McKesson Corporation (NYSE:MCK) by 24.3% in the third quarter, Holdings Channel.com reports. The firm owned 242,256 shares of the company’s stock after acquiring an additional 47,352 shares during the quarter. PNC Financial Services Group Inc.’s holdings in McKesson were worth $187,152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. IAM Advisory LLC lifted its position in McKesson by 0.3% in the 3rd quarter. IAM Advisory LLC now owns 3,908 shares of the company’s stock worth $3,019,000 after buying an additional 13 shares in the last quarter. PDS Planning Inc increased its stake in shares of McKesson by 1.1% in the third quarter. PDS Planning Inc now owns 1,209 shares of the company’s stock worth $934,000 after acquiring an additional 13 shares during the last quarter. Berkshire Asset Management LLC PA raised its holdings in shares of McKesson by 4.6% during the third quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock worth $227,000 after acquiring an additional 13 shares in the last quarter. Cardinal Point Capital Management ULC boosted its position in McKesson by 2.2% during the second quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after purchasing an additional 14 shares during the last quarter. Finally, Goldstein Advisors LLC grew its stake in McKesson by 4.4% in the third quarter. Goldstein Advisors LLC now owns 334 shares of the company’s stock valued at $258,000 after purchasing an additional 14 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $955.00, for a total value of $313,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the completion of the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MCK has been the subject of a number of recent research reports. Robert W. Baird set a $968.00 price target on McKesson in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of McKesson in a report on Wednesday, December 10th. Morgan Stanley restated an “overweight” rating and issued a $966.00 price objective on shares of McKesson in a research note on Thursday, January 29th. Wells Fargo & Company raised their target price on shares of McKesson from $914.00 to $925.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of McKesson from $983.00 to $1,107.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $937.07.

McKesson Trading Up 1.9%

NYSE MCK opened at $933.75 on Monday. McKesson Corporation has a 1-year low of $585.22 and a 1-year high of $971.93. The stock’s 50 day moving average is $840.13 and its two-hundred day moving average is $788.58. The company has a market capitalization of $114.38 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.50 and a beta of 0.40.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, topping the consensus estimate of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The business had revenue of $106.16 billion during the quarter, compared to the consensus estimate of $105.98 billion. During the same quarter last year, the company earned $8.03 EPS. McKesson’s revenue was up 11.4% on a year-over-year basis. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. On average, analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.82 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 9.43%.

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.