Kingsview Wealth Management LLC Increases Stock Position in McKesson Corporation $MCK

Kingsview Wealth Management LLC lifted its holdings in McKesson Corporation (NYSE:MCK) by 77.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,805 shares of the company’s stock after acquiring an additional 2,527 shares during the quarter. Kingsview Wealth Management LLC’s holdings in McKesson were worth $4,762,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB raised its position in shares of McKesson by 42.2% in the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after acquiring an additional 263,189 shares in the last quarter. SurgoCap Partners LP raised its position in shares of McKesson by 68.7% in the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after acquiring an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of McKesson by 73.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after acquiring an additional 183,590 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new position in shares of McKesson in the 3rd quarter worth $135,352,000. Finally, Danske Bank A S bought a new position in shares of McKesson in the 3rd quarter worth $127,487,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 2.0%

Shares of NYSE MCK opened at $741.47 on Friday. The business’s 50 day moving average price is $819.93 and its 200 day moving average price is $852.44. The firm has a market cap of $89.13 billion, a P/E ratio of 19.27, a P/E/G ratio of 1.13 and a beta of 0.35. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last issued its 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. The firm had revenue of $96.30 billion for 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. As a group, research analysts expect 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. Investors of record on Monday, June 1st will be given a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 8.53%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MCK shares. Mizuho lifted their price objective on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Wells Fargo & Company cut their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Citigroup cut their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $968.87.

Insiders Place Their Bets

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,663 shares of company stock valued at $7,217,102 over the last 90 days. 0.08% of the stock is currently owned by 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.