Vestcor Inc Raises Holdings in McKesson Corporation $MCK

Vestcor Inc raised its stake in shares of McKesson Corporation (NYSE:MCK) by 36.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,964 shares of the company’s stock after purchasing an additional 5,914 shares during the quarter. Vestcor Inc’s holdings in McKesson were worth $18,017,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Peachtree Investment Partners LLC raised its position in McKesson by 3.9% during the 4th quarter. Peachtree Investment Partners LLC now owns 13,622 shares of the company’s stock worth $11,174,000 after buying an additional 513 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of McKesson by 3.5% during the 4th quarter. MCF Advisors LLC now owns 1,032 shares of the company’s stock worth $847,000 after acquiring an additional 35 shares in the last quarter. OneAscent Financial Services LLC grew its holdings in McKesson by 17.8% in the fourth quarter. OneAscent Financial Services LLC now owns 464 shares of the company’s stock valued at $381,000 after purchasing an additional 70 shares during the period. OneAscent Family Office LLC increased its holdings in McKesson by 23.3% in the 4th quarter. OneAscent Family Office LLC now owns 598 shares of the company’s stock worth $491,000 after acquiring an additional 113 shares in the last quarter. Finally, Pinebridge Investments LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $27,181,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Bank of America decreased their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Wells Fargo & Company dropped their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. cut 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 research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $968.87.

Insider Activity

In other McKesson news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the sale, the executive vice president directly owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,760 shares of company stock worth $5,123,773 in the last 90 days. 0.08% of the stock is currently owned by insiders.

McKesson Trading Up 2.6%

Shares of NYSE:MCK opened at $776.51 on Friday. The firm has a 50 day simple moving average of $806.32 and a 200-day simple moving average of $848.96. The company has a market capitalization of $93.34 billion, a PE ratio of 20.18, a P/E/G ratio of 1.25 and a beta of 0.31. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts predict that McKesson Corporation will post 44.27 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed 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 presently 8.53%.

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.