McKesson Corporation $MCK Shares Sold by Rathbones Group PLC

Rathbones Group PLC lessened its position in shares of McKesson Corporation (NYSE:MCK) by 59.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,680 shares of the company’s stock after selling 24,495 shares during the period. Rathbones Group PLC’s holdings in McKesson were worth $14,434,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company cut their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. William Blair started coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. TD Cowen dropped their target price on McKesson from $1,012.00 to $989.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. decreased their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $962.67.

Insiders Place Their Bets

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares in the company, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% 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 quarter, insiders sold 28,748 shares of company stock valued at $22,262,035. Company insiders own 0.06% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $825.00 on Tuesday. The business has a 50-day moving average of $791.90 and a 200-day moving average of $840.34. The company has a market capitalization of $96.59 billion, a PE ratio of 21.45, a P/E/G ratio of 1.41 and a beta of 0.30. 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 results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. 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.