Wick Capital Partners LLC Takes $2.67 Million Position in McKesson Corporation $MCK

Wick Capital Partners LLC purchased a new stake in McKesson Corporation (NYSE:MCK) in the 4th quarter, Holdings Channel reports. The firm purchased 3,258 shares of the company’s stock, valued at approximately $2,673,000.

Other large investors have also made changes to their positions in the company. GGM Financials LLC acquired a new position in McKesson in the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in shares of McKesson during the fourth quarter worth about $26,000. State of Wyoming bought a new position in shares of McKesson during the 2nd quarter valued at about $29,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of McKesson during the 3rd quarter valued at about $33,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the completion of the transaction, the chief executive officer owned 14,382 shares in the company, valued at approximately $11,147,919.66. This represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were 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 trade represents a 17.39% 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. Over the last ninety days, insiders have sold 20,285 shares of company stock worth $15,546,137. Company insiders own 0.08% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $750.23 on Friday. The stock has a 50-day simple moving average of $790.35 and a 200 day simple moving average of $843.06. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The company has a market cap of $87.84 billion, a PE ratio of 19.50, a PEG ratio of 1.28 and a beta of 0.31.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 EPS 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 firm 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. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, research analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s payout ratio is currently 8.53%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MCK. Barclays lowered their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Citigroup cut their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. lowered their price objective 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. Finally, Evercore restated an “outperform” rating on shares of McKesson in a 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. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $960.53.

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.