SHP Wealth Management Acquires Shares of 1,394 McKesson Corporation $MCK

SHP Wealth Management bought a new position in McKesson Corporation (NYSE:MCK) during the 4th quarter, HoldingsChannel reports. The fund bought 1,394 shares of the company’s stock, valued at approximately $1,143,000.

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

McKesson Price Performance

NYSE MCK opened at $750.23 on Friday. The stock has a market capitalization of $87.84 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.24 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The business’s fifty day moving average price is $787.94 and its 200-day moving average price is $842.41.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. The company 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%.McKesson’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. JPMorgan Chase & Co. decreased their target price 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. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

Insider Buying and Selling at McKesson

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s 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 approximately $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the sale, the chief executive officer directly owned 14,382 shares of the company’s stock, valued at approximately $11,147,919.66. This represents a 37.05% 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 have sold 20,285 shares of company stock worth $15,546,137 over the last quarter. Company insiders own 0.08% of the company’s stock.

Key McKesson News

Here are the key news stories impacting McKesson this week:

• Negative Sentiment: CEO Brian Tyler sold 8,463 shares at an average price of $775.13 under a pre-arranged 10b5-1 plan. Even though the sale was planned, insider selling can still weigh on investor sentiment. Article Title
• Neutral Sentiment: McKesson continues to get attention for its Medical-Surgical Solutions carve-out and new financing tied to that unit, which investors may be reassessing after a strong earnings report and upbeat FY2027 guidance. Article Title
• Neutral Sentiment: The company recently announced a fiscal 2024 fourth-quarter earnings release date, a routine event that does not appear to be a major market driver on its own. Article Title

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.