McKesson Corporation $MCK Shares Acquired by Mariner LLC

Mariner LLC boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,986 shares of the company’s stock after purchasing an additional 22,989 shares during the period. Mariner LLC owned approximately 0.11% of McKesson worth $112,382,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Cullen Investment Group LTD. increased its stake in McKesson by 550.4% in the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after buying an additional 3,952 shares during the period. Pensionfund Sabic acquired a new position in shares of McKesson during the 4th quarter worth $1,887,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of McKesson by 18.8% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,009 shares of the company’s stock worth $7,732,000 after purchasing an additional 1,585 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of McKesson by 24.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 242,256 shares of the company’s stock worth $187,152,000 after purchasing an additional 47,352 shares during the last quarter. Finally, Achmea Investment Management B.V. grew its stake in McKesson by 7.5% in the 3rd quarter. Achmea Investment Management B.V. now owns 61,287 shares of the company’s stock valued at $47,347,000 after buying an additional 4,260 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $779.35 on Tuesday. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm has a fifty day moving average price of $795.97 and a two-hundred day moving average price of $845.41. The company has a market cap of $93.68 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the prior year, the firm earned $10.12 EPS. The business’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued 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 yield of 0.4%. McKesson’s dividend payout ratio is 8.53%.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% 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. Insiders sold 11,822 shares of company stock valued at $8,986,212 in the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MCK shares. JPMorgan Chase & Co. lowered 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. William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. UBS Group raised their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Fourteen equities 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, McKesson presently has an average rating of “Moderate Buy” and an average price target of $960.53.

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.