RiverFront Investment Group LLC Acquires 1,232 Shares of McKesson Corporation $MCK

RiverFront Investment Group LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 315.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,623 shares of the company’s stock after buying an additional 1,232 shares during the quarter. RiverFront Investment Group LLC’s holdings in McKesson were worth $1,331,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GGM Financials LLC bought a new position in McKesson during the third quarter valued at about $25,000. State of Wyoming bought a new position in McKesson during the second quarter valued at about $29,000. Hopwood Financial Services Inc. bought a new position in McKesson during the third quarter valued at about $31,000. Board of the Pension Protection Fund bought a new position in McKesson during the fourth quarter valued at about $33,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in McKesson during the third quarter valued at about $33,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 1.9%

Shares of NYSE MCK opened at $775.38 on Tuesday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm has a market capitalization of $93.20 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.13 and a beta of 0.35. The business has a 50-day moving average of $851.72 and a 200-day moving average of $857.32.

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 business 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 for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts predict that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Announces Dividend

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

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total value of $2,697,750.00. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at approximately $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Maria Martinez sold 349 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the completion of the sale, the director owned 301 shares of the company’s stock, valued at $282,900.87. The trade was a 53.69% decrease in their position. The SEC filing for this sale provides additional information. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Raymond James Financial set a $970.00 price target on shares of McKesson in a research report on Thursday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of 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. Morgan Stanley restated an “overweight” rating and set a $966.00 price target on shares of McKesson in a research report on Thursday, January 29th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, William Blair assumed coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating for the company. Fourteen equities 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $968.87.

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.