WD Rutherford LLC Reduces Holdings in McKesson Corporation $MCK

WD Rutherford LLC lowered its stake in shares of McKesson Corporation (NYSE:MCK) by 13.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,779 shares of the company’s stock after selling 732 shares during the quarter. McKesson comprises approximately 1.8% of WD Rutherford LLC’s investment portfolio, making the stock its 25th largest holding. WD Rutherford LLC’s holdings in McKesson were worth $4,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. Essex Financial Services Inc. boosted its stake in McKesson by 5.0% in the 1st quarter. Essex Financial Services Inc. now owns 3,047 shares of the company’s stock worth $2,636,000 after purchasing an additional 146 shares in the last quarter. Trust Investment Advisors acquired a new position in McKesson during the 1st quarter valued at approximately $290,000. Fulton Bank N.A. raised its holdings in shares of McKesson by 1.7% in the first quarter. Fulton Bank N.A. now owns 6,159 shares of the company’s stock worth $5,330,000 after buying an additional 105 shares during the last quarter. James Investment Research Inc. raised its holdings in shares of McKesson by 7.7% in the first quarter. James Investment Research Inc. now owns 3,785 shares of the company’s stock worth $3,275,000 after buying an additional 272 shares during the last quarter. Finally, Vertrix Wealth Management LLC acquired a new stake in shares of McKesson during the first quarter worth $4,028,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Evercore reiterated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Finally, Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of 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 SEC, which is available through the SEC website. 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 dated Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the sale, the chief executive officer owned 14,382 shares in the company, valued at $11,147,919.66. The trade was a 37.05% decrease in their position. 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. Over the last 90 days, insiders have sold 20,285 shares of company stock worth $15,546,137. Corporate insiders own 0.06% of the company’s stock.

McKesson Price Performance

MCK stock opened at $768.98 on Thursday. The company has a market capitalization of $90.03 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.24 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm’s fifty day simple moving average is $771.21 and its 200-day simple moving average is $839.55.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a dividend of $0.82 per share. The ex-dividend date was Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

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.