McKesson Corporation $MCK Shares Acquired by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC grew its stake in McKesson Corporation (NYSE:MCK) by 40.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,983 shares of the company’s stock after purchasing an additional 1,728 shares during the quarter. HighPoint Advisor Group LLC’s holdings in McKesson were worth $4,908,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after purchasing an additional 73,109 shares in the last quarter. State Street Corp grew its position in shares of McKesson by 0.9% during the 3rd quarter. State Street Corp now owns 5,750,519 shares of the company’s stock valued at $4,447,110,000 after buying an additional 51,510 shares during the last quarter. Franklin Resources Inc. grew its position in shares of McKesson by 3.5% during the 3rd quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock valued at $2,071,428,000 after buying an additional 90,948 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of McKesson by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after buying an additional 126,684 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of McKesson by 0.4% during the 3rd quarter. Northern Trust Corp now owns 1,532,856 shares of the company’s stock valued at $1,184,193,000 after buying an additional 6,613 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 1.5%

NYSE MCK opened at $724.87 on Tuesday. 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 $88.79 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.06 and a beta of 0.35. The company has a 50-day moving average price of $874.21 and a two-hundred day moving average price of $859.12.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the prior year, the firm earned $10.12 EPS. McKesson’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts expect that McKesson Corporation will post 44.25 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company 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 $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.5%. McKesson’s dividend payout ratio is 8.53%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of McKesson in a research report on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $966.00 price objective on shares of McKesson in a research report on Thursday, January 29th. UBS Group boosted their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Finally, Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $970.73.

Insiders Place Their Bets

In other McKesson news, Director Maria Martinez sold 349 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the completion of the transaction, the director owned 301 shares in the company, valued at approximately $282,900.87. This represents a 53.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michele Lau sold 2,725 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was 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 trade represents a 45.63% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,264 shares of company stock worth $3,205,315. 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.