Marietta Investment Partners LLC Acquires 5,051 Shares of McKesson Corporation $MCK

Marietta Investment Partners LLC lifted its holdings in McKesson Corporation (NYSE:MCK) by 404.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,300 shares of the company’s stock after acquiring an additional 5,051 shares during the quarter. McKesson makes up about 1.1% of Marietta Investment Partners LLC’s holdings, making the stock its 29th largest holding. Marietta Investment Partners LLC’s holdings in McKesson were worth $5,452,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wells Fargo & Company cut their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. William Blair assumed coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. cut 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. Citigroup reduced their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $960.53.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the transaction, the chief executive officer owned 14,382 shares in the company, valued at $11,147,919.66. This trade represents a 37.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This 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. Insiders sold 20,285 shares of company stock valued at $15,546,137 over the last three months. 0.06% of the stock is owned by corporate insiders.

McKesson Stock Down 0.0%

MCK opened at $786.17 on Monday. The company has a market cap of $92.05 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31. The firm’s 50-day moving average price is $769.23 and its 200-day moving average price is $839.09. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last released 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. The company had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid 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 was Monday, June 1st. McKesson’s payout ratio is presently 8.53%.

McKesson Company 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.