Kovitz Investment Group Partners LLC Has $20.88 Million Holdings in McKesson Corporation $MCK

Kovitz Investment Group Partners LLC lessened its holdings in McKesson Corporation (NYSE:MCK) by 48.0% during the 4th quarter, Holdings Channel reports. The firm owned 25,447 shares of the company’s stock after selling 23,465 shares during the period. Kovitz Investment Group Partners LLC’s holdings in McKesson were worth $20,875,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wick Capital Partners LLC bought a new stake in shares of McKesson during the fourth quarter worth approximately $2,673,000. Van Diest Capital LLC bought a new position in McKesson in the fourth quarter valued at approximately $461,000. Compound Planning Inc. boosted its stake in McKesson by 92.9% in the fourth quarter. Compound Planning Inc. now owns 2,598 shares of the company’s stock valued at $2,131,000 after acquiring an additional 1,251 shares during the last quarter. Invesco Ltd. grew its holdings in McKesson by 9.5% during the 4th quarter. Invesco Ltd. now owns 1,052,739 shares of the company’s stock worth $863,551,000 after acquiring an additional 90,982 shares during the period. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of McKesson during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the sale, the chief executive officer directly owned 14,382 shares of the company’s stock, valued at $11,147,919.66. This represents a 37.05% 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. In the last three months, insiders sold 20,285 shares of company stock worth $15,546,137. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCK. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. William Blair initiated coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Citigroup cut their target price on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. JPMorgan Chase & Co. reduced their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Raymond James Financial set a $970.00 target price on McKesson in a research report on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

McKesson Price Performance

Shares of McKesson stock opened at $750.23 on Friday. The company has a market capitalization of $87.84 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.28 and a beta of 0.31. The business has a 50-day moving average of $790.35 and a two-hundred day moving average of $843.06. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the previous year, the business posted $10.12 EPS. McKesson’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. On average, equities analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is 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.