Martingale Asset Management L P Sells 1,780 Shares of McKesson Corporation $MCK

Martingale Asset Management L P decreased its position in shares of McKesson Corporation (NYSE:MCK) by 5.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 30,205 shares of the company’s stock after selling 1,780 shares during the quarter. Martingale Asset Management L P’s holdings in McKesson were worth $24,777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GGM Financials LLC bought a new position in McKesson in the 3rd quarter worth about $25,000. Swiss RE Ltd. bought a new position in McKesson in the 4th quarter worth about $26,000. State of Wyoming bought a new position in McKesson in the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC bought a new position in McKesson in the 3rd quarter worth about $33,000. Finally, Board of the Pension Protection Fund bought a new position in McKesson in the 4th quarter worth about $33,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several analyst reports. Citigroup cut their target price on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Barclays cut their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group raised their target price on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Bank of America cut their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $960.53.

Insiders Place Their Bets

In other news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 McKesson stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% 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. In the last 90 days, insiders have sold 11,822 shares of company stock worth $8,986,212. Insiders own 0.08% of the company’s stock.

McKesson Trading Down 0.4%

Shares of MCK opened at $783.88 on Friday. The company has a market cap of $94.22 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.31. The stock has a 50-day moving average price of $798.10 and a 200-day moving average price of $846.35. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

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

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is 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.