Great Lakes Advisors LLC Sells 2,441 Shares of McKesson Corporation $MCK

Great Lakes Advisors LLC lessened its position in McKesson Corporation (NYSE:MCK) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,694 shares of the company’s stock after selling 2,441 shares during the quarter. Great Lakes Advisors LLC’s holdings in McKesson were worth $53,888,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Aviva PLC lifted its holdings in McKesson by 4.7% during the 4th quarter. Aviva PLC now owns 124,919 shares of the company’s stock valued at $102,470,000 after buying an additional 5,553 shares in the last quarter. Sustainable Insight Capital Management LLC bought a new stake in McKesson during the 4th quarter valued at about $208,000. Investment Research Partners LLC lifted its holdings in McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after buying an additional 11 shares in the last quarter. Caerus Investment Advisors LLC bought a new stake in McKesson during the 4th quarter valued at about $208,000. Finally, Kovack Advisors Inc. lifted its holdings in McKesson by 217.1% during the 4th quarter. Kovack Advisors Inc. now owns 1,221 shares of the company’s stock valued at $1,002,000 after buying an additional 836 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $788.44 on Friday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm has a market cap of $94.77 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.30 and a beta of 0.31. The firm has a 50-day simple moving average of $799.89 and a 200-day simple moving average of $846.79.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the previous year, the firm earned $10.12 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, research analysts predict that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Insider Activity

In other news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares of the company’s stock, valued at $2,351,768.10. The trade was a 43.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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. Also, EVP Michele Lau sold 3,550 shares of McKesson 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 transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% 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. Insiders sold 11,822 shares of company stock worth $8,986,212 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MCK. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a report on Thursday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Citigroup decreased their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Finally, Raymond James Financial set a $970.00 price target on shares of McKesson in a report on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

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.