Manning & Napier Advisors LLC Buys Shares of 30,397 McKesson Corporation $MCK

Manning & Napier Advisors LLC purchased a new position in McKesson Corporation (NYSE:MCK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,397 shares of the company’s stock, valued at approximately $26,304,000.

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

McKesson Price Performance

Shares of MCK stock traded up $12.50 on Friday, hitting $805.31. 491,746 shares of the stock traded hands, compared to its average volume of 1,122,131. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm has a 50 day simple moving average of $766.35 and a two-hundred day simple moving average of $838.53. The firm has a market cap of $94.29 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.31 and a beta of 0.31.

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

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have commented on MCK. JPMorgan Chase & Co. reduced their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. William Blair started coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Finally, Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

Insiders Place Their Bets

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,748 shares of company stock valued at $22,262,035 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

About McKesson

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.