Oak Associates Ltd. OH Sells 1,050 Shares of McKesson Corporation $MCK

Oak Associates Ltd. OH lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 8.2% during the first quarter, Holdings Channel.com reports. The firm owned 11,814 shares of the company’s stock after selling 1,050 shares during the quarter. Oak Associates Ltd. OH’s holdings in McKesson were worth $10,223,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Cullen Investment Group LTD. boosted its stake in shares of McKesson by 550.4% in the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after purchasing an additional 3,952 shares during the period. Horizon Investments LLC increased its stake in McKesson by 125.4% during the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after buying an additional 4,828 shares during the period. Northstar Advisory Group LLC lifted its holdings in McKesson by 133.4% during the 4th quarter. Northstar Advisory Group LLC now owns 3,704 shares of the company’s stock worth $3,038,000 after buying an additional 2,117 shares in the last quarter. J. Safra Sarasin Holding AG acquired a new stake in McKesson during the 4th quarter worth approximately $2,481,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in McKesson by 2.8% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 48,721 shares of the company’s stock valued at $39,965,000 after buying an additional 1,321 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 1.3%

Shares of MCK opened at $824.71 on Friday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The firm’s fifty day simple moving average is $778.42 and its 200-day simple moving average is $838.44. The firm has a market capitalization of $96.56 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 1.34 and a beta of 0.31.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. The business 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%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.5%. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 28,748 shares of company stock valued at $22,262,035. 0.06% of the stock is owned by insiders.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson raised its quarterly dividend by 15% to $0.94 per share, a shareholder-friendly move that suggests strong underlying cash generation and could support investor sentiment. McKesson Corporation Raises Quarterly Dividend by 15% to $0.94 Per Share
• Positive Sentiment: Some coverage framed McKesson as a stock worth watching, reflecting continued investor interest in the name after its strong long-term performance. 1 S&P 500 Stock on Our Buy List and 2 Facing Challenges
• Neutral Sentiment: McKesson was also featured in “trending stock” and long-term performance articles, which indicate elevated attention but do not add a clear new fundamental catalyst. Is Trending Stock McKesson Corporation (MCK) a Buy Now?
• Negative Sentiment: TD Cowen reportedly lowered expectations for McKesson, and separate commentary noted the stock had recently underperformed the broader market, which may have weighed on sentiment. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MCK shares. Citigroup dropped their price target 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. Bank of America reduced their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. William Blair assumed coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, UBS Group increased their price target on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $959.00.

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.