MidFirst Bank Takes Position in McKesson Corporation $MCK

MidFirst Bank purchased a new position in McKesson Corporation (NYSE:MCK) during the 4th quarter, HoldingsChannel reports. The firm purchased 726 shares of the company’s stock, valued at approximately $596,000.

A number of other large investors also recently modified their holdings of MCK. Cullen Investment Group LTD. raised 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 in the last quarter. Pensionfund Sabic acquired a new stake in McKesson during the fourth quarter worth $1,887,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in McKesson by 18.8% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,009 shares of the company’s stock worth $7,732,000 after buying an additional 1,585 shares in the last quarter. Achmea Investment Management B.V. increased its holdings in McKesson by 7.5% in the 3rd quarter. Achmea Investment Management B.V. now owns 61,287 shares of the company’s stock valued at $47,347,000 after buying an additional 4,260 shares during the period. Finally, Investment Research Partners LLC bought a new stake in McKesson in the 3rd quarter valued at $1,303,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 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 Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction 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 in the company, valued at $1,667,592.36. The trade was a 23.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 20,285 shares of company stock valued at $15,546,137. Company insiders own 0.08% of the company’s stock.

Key Headlines Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Negative Sentiment: CEO Brian Tyler sold 8,463 shares at an average price of $775.13 under a pre-arranged 10b5-1 plan. Even though the sale was planned, insider selling can still weigh on investor sentiment. Article Title
• Neutral Sentiment: McKesson continues to get attention for its Medical-Surgical Solutions carve-out and new financing tied to that unit, which investors may be reassessing after a strong earnings report and upbeat FY2027 guidance. Article Title
• Neutral Sentiment: The company recently announced a fiscal 2024 fourth-quarter earnings release date, a routine event that does not appear to be a major market driver on its own. Article Title

McKesson Stock Down 0.1%

NYSE:MCK opened at $750.23 on Friday. The firm has a market cap of $87.84 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.24 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The company’s 50-day moving average price is $787.94 and its two-hundred day moving average price is $842.41.

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

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MCK shares. Raymond James Financial set a $970.00 price objective on shares of McKesson in a report on Thursday, March 5th. UBS Group increased their price target 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. William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Citigroup decreased their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, Evercore reiterated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

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.