McKesson Corporation $MCK Shares Bought by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lifted its stake in McKesson Corporation (NYSE:MCK) by 6,759.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,301 shares of the company’s stock after buying an additional 26,903 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in McKesson were worth $23,625,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of McKesson by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares during the period. Investment Research Partners LLC grew its holdings in McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after purchasing an additional 11 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in McKesson by 0.9% in the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after buying an additional 11 shares in the last quarter. LRI Investments LLC boosted its position in McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock valued at $91,000 after buying an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC grew its stake in shares of McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after acquiring an additional 12 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. 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, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This represents a 58.84% 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 28,748 shares of company stock worth $22,262,035 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCK. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Barclays dropped their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. William Blair assumed coverage on shares of McKesson in a report on Tuesday, April 28th. They set an “outperform” rating for the company. Finally, UBS Group boosted their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $960.53.

McKesson Price Performance

Shares of MCK stock traded up $12.50 on Friday, hitting $805.31. 491,746 shares of the stock traded hands, compared to its average volume of 1,122,131. The company’s fifty day moving average is $766.35 and its 200 day moving average is $838.53. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The company has a market capitalization of $94.29 billion, a PE ratio of 20.93, a PEG ratio of 1.33 and a beta of 0.31.

McKesson (NYSE:MCK) last released its earnings results 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. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous 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, equities research analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s dividend payout ratio is currently 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.