McKesson Corporation $MCK Stock Holdings Lowered by Cumberland Partners Ltd

Cumberland Partners Ltd cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 45.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,375 shares of the company’s stock after selling 3,650 shares during the period. Cumberland Partners Ltd’s holdings in McKesson were worth $3,786,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MCK. Horizon Investments LLC grew its position in McKesson by 125.4% during the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after purchasing an additional 4,828 shares in the last quarter. Northstar Advisory Group LLC lifted its holdings in shares of McKesson by 133.4% in the fourth quarter. Northstar Advisory Group LLC now owns 3,704 shares of the company’s stock valued at $3,038,000 after purchasing an additional 2,117 shares in the last quarter. J. Safra Sarasin Holding AG acquired a new stake in shares of McKesson in the fourth quarter worth $2,481,000. Mn Services Vermogensbeheer B.V. boosted its position in shares of McKesson by 2.8% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 48,721 shares of the company’s stock worth $39,965,000 after buying an additional 1,321 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of McKesson by 18.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company’s stock valued at $25,860,000 after buying an additional 4,964 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 28,748 shares of company stock valued at $22,262,035. 0.06% of the stock is currently owned by insiders.

McKesson News Roundup

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson boosted its quarterly dividend to $0.94 per share from $0.82, signaling management confidence in cash flow and returning more capital to shareholders. McKesson Raises Quarterly Dividend by 15%
• Positive Sentiment: Shareholders backed the board, auditors, and executive compensation at the annual meeting, reducing governance uncertainty. McKesson Shareholders Back Board, Auditors, and Executive Pay
• Neutral Sentiment: Recent commentary from analysts has been mixed, with one piece noting conflicting views on McKesson and other healthcare names, which may keep sentiment balanced in the near term. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Neutral Sentiment: TD Cowen reportedly lowered expectations for McKesson’s stock price, adding a cautionary note despite the company’s strong operational backdrop. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

Analyst Ratings Changes

Several research analysts recently weighed in on MCK shares. UBS Group upped their price target on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Citigroup lifted their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Finally, Barclays reduced their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $962.67.

McKesson Price Performance

Shares of NYSE MCK opened at $840.76 on Friday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The business’s 50-day moving average price is $780.04 and its two-hundred day moving average price is $838.46. The company has a market capitalization of $98.43 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.36 and a beta of 0.31.

McKesson (NYSE:MCK) 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 business had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.94 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 9.77%.

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.