Patriot Financial Group Insurance Agency LLC Raises Stake in McKesson Corporation $MCK

Patriot Financial Group Insurance Agency LLC raised its position in shares of McKesson Corporation (NYSE:MCK) by 118.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,456 shares of the company’s stock after purchasing an additional 2,955 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in McKesson were worth $4,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the period. Caxton Associates LLP bought a new position in McKesson in the 1st quarter worth $233,000. Sivia Capital Partners LLC increased its stake in McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after acquiring an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new position in shares of McKesson in the second quarter valued at about $166,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Up 0.1%

Shares of MCK stock opened at $764.38 on Monday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The stock’s 50-day moving average price is $777.55 and its 200-day moving average price is $840.59. The stock has a market capitalization of $89.49 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 1.26 and a beta of 0.31.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping 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 company had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the previous year, the business earned $10.12 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts predict that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent analyst reports. Bank of America dropped their price objective 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. Raymond James Financial set a $970.00 price target on McKesson in a report on Thursday, March 5th. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $960.53.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’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 sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% 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. Insiders have sold a total of 20,285 shares of company stock valued at $15,546,137 over the last quarter. 0.06% of the stock is owned by insiders.

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.