King Luther Capital Management Corp increased its position in McKesson Corporation (NYSE:MCK – Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,889 shares of the company’s stock after purchasing an additional 793 shares during the quarter. King Luther Capital Management Corp’s holdings in McKesson were worth $42,596,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Rosenberg Matthew Hamilton raised its holdings in shares of McKesson by 2.8% in the third quarter. Rosenberg Matthew Hamilton now owns 406 shares of the company’s stock valued at $347,000 after acquiring an additional 11 shares in the last quarter. Avail Investment Partners LLC grew its holdings in McKesson by 1.7% during the 3rd quarter. Avail Investment Partners LLC now owns 662 shares of the company’s stock worth $566,000 after acquiring an additional 11 shares in the last quarter. Commonwealth Financial Services LLC grew its holdings in McKesson by 3.8% during the 3rd quarter. Commonwealth Financial Services LLC now owns 304 shares of the company’s stock worth $260,000 after acquiring an additional 11 shares in the last quarter. WealthPLAN Partners LLC raised its holdings in shares of McKesson by 0.4% in the 3rd quarter. WealthPLAN Partners LLC now owns 3,190 shares of the company’s stock valued at $2,724,000 after purchasing an additional 12 shares in the last quarter. Finally, Arista Wealth Management LLC raised its holdings in shares of McKesson by 1.0% in the 2nd quarter. Arista Wealth Management LLC now owns 1,446 shares of the company’s stock valued at $1,093,000 after purchasing an additional 14 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
McKesson Stock Down 0.2%
Shares of MCK opened at $1,080.76 on Thursday. The company has a 50 day moving average of $948.83 and a two-hundred day moving average of $871.94. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,121.50. The company has a market cap of $124.79 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 1.83 and a beta of 0.27.
McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.72 by $0.96. McKesson had a negative return on equity of 202.94% and a net margin of 1.12%. The business had revenue of $110.96 billion for the quarter, compared to the consensus estimate of $109.90 billion. During the same period in the prior year, the firm posted $9.86 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts expect that McKesson Corporation will post 46.16 EPS for the current year.
McKesson Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, December 1st. McKesson’s dividend payout ratio is currently 9.67%.
Insider Activity
In other McKesson news, EVP Francisco Fraga sold 800 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the completion of the sale, the executive vice president directly owned 5,423 shares in the company, valued at approximately $5,400,223.40. This trade represents a 12.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. This trade represents a 17.56% 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 have sold a total of 2,161 shares of company stock worth $2,242,515 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have recently weighed in on MCK. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Leerink Partners upped their target price on McKesson from $1,070.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Robert W. Baird set a $1,015.00 target price on McKesson in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on McKesson from $1,042.00 to $1,255.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, UBS Group boosted their price target on McKesson from $1,200.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,040.29.
View Our Latest Stock Report on McKesson
McKesson News Summary
Here’s some of the latest news about MCK:
- Positive Sentiment: Coverage links McKesson’s new highs to pharmaceutical and GLP-1 sales, alongside institutional investor support. This points to sustained demand for the company’s distribution business. Sales of Pharmaceuticals, GLP-1s Send McKesson Shares to New Highs
- Positive Sentiment: McKesson reportedly raised its fiscal 2027 adjusted EPS outlook, a potential signal of confidence in future earnings. The article listing does not provide the revised forecast figures. McKesson stock raises fiscal 2027 adjusted EPS outlook
- Positive Sentiment: Zacks highlighted McKesson’s growth attributes as reasons investors may find the stock attractive. 3 Reasons Why Growth Investors Shouldn’t Overlook McKesson
About McKesson
McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.
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