Smith Group Asset Management LLC grew its stake in McKesson Corporation (NYSE:MCK – Free Report) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,597 shares of the company’s stock after buying an additional 4,564 shares during the period. McKesson makes up approximately 2.8% of Smith Group Asset Management LLC’s holdings, making the stock its 10th biggest position. Smith Group Asset Management LLC owned about 0.05% of McKesson worth $54,169,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. acquired a new stake in McKesson in the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in McKesson during the fourth quarter worth approximately $26,000. State of Wyoming acquired a new position in McKesson during the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. acquired a new position in McKesson during the fourth quarter valued at approximately $33,000. Finally, Birchwood Financial Partners Inc. bought a new position in shares of McKesson in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.
Analyst Ratings Changes
MCK has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Wells Fargo & Company cut their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. UBS Group raised their price target on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Fourteen investment 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 an average rating of “Moderate Buy” and an average price target of $962.67.
McKesson Price Performance
Shares of McKesson stock opened at $891.37 on Wednesday. The company has a market cap of $104.36 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.31. The firm has a fifty day moving average price of $784.12 and a two-hundred day moving average price of $839.21. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.
McKesson (NYSE:MCK – Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the previous year, the firm posted $10.12 EPS. The business’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. Analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.
McKesson Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio is presently 8.53%.
Insider Buying and Selling at McKesson
In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% 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 90 days, insiders have sold 28,748 shares of company stock worth $22,262,035. Corporate insiders own 0.06% of the company’s stock.
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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