McKesson Corporation $MCK Shares Sold by SVB Wealth LLC

SVB Wealth LLC reduced its stake in McKesson Corporation (NYSE:MCK) by 66.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 585 shares of the company’s stock after selling 1,171 shares during the period. SVB Wealth LLC’s holdings in McKesson were worth $442,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MCK. California State Teachers Retirement System boosted its position in shares of McKesson by 73,780.3% during the 2nd quarter. California State Teachers Retirement System now owns 141,246,575 shares of the company’s stock worth $106,725,912,000 after purchasing an additional 141,055,392 shares during the period. BlackRock Inc. acquired a new stake in McKesson in the 2nd quarter valued at approximately $8,156,743,000. Norges Bank purchased a new stake in McKesson in the fourth quarter valued at approximately $1,651,137,000. Bank of America Corp DE acquired a new position in McKesson during the second quarter worth $998,896,000. Finally, Legal & General Group Plc acquired a new position in McKesson during the second quarter worth $656,566,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 1.2%

Shares of McKesson stock opened at $881.22 on Friday. McKesson Corporation has a 52 week low of $687.68 and a 52 week high of $999.00. The firm’s 50 day moving average is $858.30 and its two-hundred day moving average is $840.99. The firm has a market capitalization of $102.74 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.77 and a beta of 0.30.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 10.06%.

Analyst Ratings Changes

A number of equities analysts recently commented on MCK shares. Barclays raised their target price on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Royal Bank Of Canada initiated coverage on shares of McKesson in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price objective for the company. Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares in the company, valued at approximately $464,445.45. The trade was a 17.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 17,338 shares of company stock valued at $13,643,366. Company insiders own 0.06% of the company’s stock.

About McKesson

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.