Oak Associates Ltd. OH Has $10.22 Million Stock Holdings in McKesson Corporation $MCK

Oak Associates Ltd. OH trimmed its stake in shares of McKesson Corporation (NYSE:MCK) by 8.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 11,814 shares of the company’s stock after selling 1,050 shares during the quarter. Oak Associates Ltd. OH’s holdings in McKesson were worth $10,223,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. bought a new position in McKesson in the 4th quarter valued at about $26,000. State of Wyoming acquired a new position in shares of McKesson in the 2nd quarter valued at approximately $29,000. Kingdom Financial Group LLC. bought a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. Institutional investors own 85.07% of the company’s stock.

More McKesson News

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson raised its quarterly dividend by 15% to $0.94 per share, a shareholder-friendly move that suggests strong underlying cash generation and could support investor sentiment. McKesson Corporation Raises Quarterly Dividend by 15% to $0.94 Per Share
• Positive Sentiment: Some coverage framed McKesson as a stock worth watching, reflecting continued investor interest in the name after its strong long-term performance. 1 S&P 500 Stock on Our Buy List and 2 Facing Challenges
• Neutral Sentiment: McKesson was also featured in “trending stock” and long-term performance articles, which indicate elevated attention but do not add a clear new fundamental catalyst. Is Trending Stock McKesson Corporation (MCK) a Buy Now?
• Negative Sentiment: TD Cowen reportedly lowered expectations for McKesson, and separate commentary noted the stock had recently underperformed the broader market, which may have weighed on sentiment. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Barclays decreased their price objective on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. William Blair started coverage on McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. JPMorgan Chase & Co. decreased their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $959.00.

Insider Transactions at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. 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 90 days, insiders sold 28,748 shares of company stock worth $22,262,035. Insiders own 0.06% of the company’s stock.

McKesson Price Performance

MCK stock opened at $824.71 on Friday. The stock has a market cap of $96.56 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 1.34 and a beta of 0.31. The company has a 50 day simple moving average of $778.42 and a 200 day simple moving average of $838.44. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for 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 quarterly 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, equities research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.5%. McKesson’s dividend payout ratio (DPR) is 8.53%.

McKesson 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.