Bank of New York Mellon Corp reduced its stake in McKesson Corporation (NYSE:MCK – Free Report) by 3.4% in the 1st quarter, HoldingsChannel reports. The firm owned 825,622 shares of the company’s stock after selling 29,162 shares during the quarter. Bank of New York Mellon Corp’s holdings in McKesson were worth $714,460,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after buying an additional 11 shares during the period. Investment Research Partners LLC increased its holdings in shares of McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after acquiring an additional 11 shares in the last quarter. IHT Wealth Management LLC increased its holdings in shares of McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after acquiring an additional 11 shares in the last quarter. LRI Investments LLC raised its position in shares of McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares during the period. Finally, Macroview Investment Management LLC raised its position in shares of McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after purchasing an additional 12 shares during the period. Institutional investors own 85.07% of the company’s stock.
Insider Activity at McKesson
In related news, EVP Thomas L. Rodgers sold 2,388 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 $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. The transaction 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. 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 stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,748 shares of company stock valued at $22,262,035 over the last quarter. 0.06% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on MCK
McKesson Stock Up 5.5%
Shares of NYSE MCK opened at $840.18 on Friday. The stock’s 50 day moving average price is $769.18 and its 200-day moving average price is $838.30. The company has a market capitalization of $98.37 billion, a PE ratio of 21.84, a PEG ratio of 1.31 and a beta of 0.31. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.
McKesson (NYSE:MCK – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.
McKesson Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson’s payout ratio is presently 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.
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