Kestra Advisory Services LLC Acquires 1,058 Shares of McKesson Corporation $MCK

Kestra Advisory Services LLC raised its holdings in shares of McKesson Corporation (NYSE:MCK) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,920 shares of the company’s stock after acquiring an additional 1,058 shares during the quarter. Kestra Advisory Services LLC’s holdings in McKesson were worth $14,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. bought a new stake in shares of McKesson during the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new position in McKesson in the 4th quarter worth about $26,000. State of Wyoming purchased a new position in McKesson during the 2nd quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in McKesson during the 3rd quarter valued at about $33,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of McKesson during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MCK shares. Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. 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, June 10th. Bank of America cut their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. JPMorgan Chase & Co. decreased their price target 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. Finally, 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. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s 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 completion of the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction dated 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 owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% 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. Insiders sold a total of 28,748 shares of company stock worth $22,262,035 in the last quarter. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Performance

NYSE:MCK traded up $12.50 during mid-day trading on Friday, reaching $805.31. The stock had a trading volume of 491,746 shares, compared to its average volume of 1,122,131. The firm has a 50 day moving average price of $766.35 and a two-hundred day moving average price of $838.53. The stock has a market capitalization of $94.29 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.33 and a beta of 0.31. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating 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 net margin of 1.18% and a negative return on equity of 345.35%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a $0.82 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 8.53%.

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.