2,024 McKesson Corporation $MCK Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,316 shares of the company’s stock after selling 2,024 shares during the quarter. ProShare Advisors LLC’s holdings in McKesson were worth $16,492,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Rosenberg Matthew Hamilton boosted its stake in shares of McKesson by 2.8% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 406 shares of the company’s stock worth $347,000 after purchasing an additional 11 shares during the last quarter. Avail Investment Partners LLC lifted its position in shares of McKesson by 1.7% during the third quarter. Avail Investment Partners LLC now owns 662 shares of the company’s stock worth $566,000 after purchasing an additional 11 shares during the last quarter. Commonwealth Financial Services LLC increased its holdings in shares of McKesson by 3.8% in the 3rd quarter. Commonwealth Financial Services LLC now owns 304 shares of the company’s stock valued at $260,000 after acquiring an additional 11 shares during the last quarter. Stephens Inc. AR increased its stake in McKesson by 0.8% during the first quarter. Stephens Inc. AR now owns 1,581 shares of the company’s stock valued at $1,368,000 after purchasing an additional 12 shares during the last quarter. Finally, WealthPLAN Partners LLC raised its holdings in shares of McKesson by 0.4% during the third quarter. WealthPLAN Partners LLC now owns 3,190 shares of the company’s stock worth $2,724,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCK. UBS Group lifted their price target on shares of McKesson from $1,080.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, October 16th. Bank of America raised their price target on McKesson from $950.00 to $1,050.00 in a report on Thursday, August 6th. Citigroup raised their price target on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $845.00 target price on shares of McKesson in a research report on Monday, September 14th. Finally, Robert W. Baird set a $1,015.00 price objective on McKesson in a report on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $997.12.

Insider Activity at McKesson

In related news, EVP Francisco Fraga sold 800 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $995.80, for a total transaction of $796,640.00. Following the transaction, the executive vice president directly owned 5,423 shares in the company, valued at approximately $5,400,223.40. The trade was a 12.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the sale, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. This represents a 17.56% 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. Over the last 90 days, insiders sold 1,212 shares of company stock valued at $1,164,182. Corporate insiders own 0.06% of the company’s stock.

McKesson Trading Up 0.7%

NYSE:MCK opened at $1,001.05 on Tuesday. The firm has a market capitalization of $116.71 billion, a PE ratio of 26.79, a PEG ratio of 1.91 and a beta of 0.30. The firm’s fifty day simple moving average is $925.32 and its 200 day simple moving average is $863.78. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,030.27.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period last year, the firm earned $8.26 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts anticipate that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, December 1st. McKesson’s dividend payout ratio is 10.06%.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.