Rockefeller Capital Management L.P. Buys 7,974 Shares of McKesson Corporation $MCK

Rockefeller Capital Management L.P. lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 42.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 26,557 shares of the company’s stock after buying an additional 7,974 shares during the period. Rockefeller Capital Management L.P.’s holdings in McKesson were worth $21,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. World Investment Advisors raised its position in shares of McKesson by 7.9% during the 4th quarter. World Investment Advisors now owns 7,104 shares of the company’s stock valued at $5,828,000 after acquiring an additional 521 shares during the last quarter. Union Savings Bank acquired a new stake in shares of McKesson during the fourth quarter worth $314,000. Hsbc Holdings PLC increased its holdings in McKesson by 6.0% in the fourth quarter. Hsbc Holdings PLC now owns 275,912 shares of the company’s stock valued at $226,756,000 after purchasing an additional 15,594 shares during the last quarter. Bayban acquired a new position in McKesson in the fourth quarter valued at about $245,000. Finally, Rehmann Capital Advisory Group lifted its stake in McKesson by 4.5% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,806 shares of the company’s stock valued at $2,303,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company lowered their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Barclays decreased their price objective on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. cut their target price on shares of 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, Leerink Partners reissued an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $960.53.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the business’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 in the company, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% 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. In the last ninety days, insiders have sold 20,285 shares of company stock valued at $15,546,137. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of MCK opened at $745.12 on Tuesday. The firm has a market cap of $87.24 billion, a P/E ratio of 19.37, a PEG ratio of 1.24 and a beta of 0.31. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The firm’s 50 day moving average price is $785.38 and its two-hundred day moving average price is $841.72.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the prior year, the firm earned $10.12 earnings per share. The firm’s 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, sell-side analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued 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 is Monday, June 1st. McKesson’s payout ratio is 8.53%.

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.