McKesson Corporation $MCK Shares Sold by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. cut its stake in McKesson Corporation (NYSE:MCK) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,159 shares of the company’s stock after selling 1,104 shares during the period. McKesson makes up 4.7% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 7th largest position. Bristol Gate Capital Partners Inc.’s holdings in McKesson were worth $82,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after purchasing an additional 73,109 shares during the period. State Street Corp boosted its stake in McKesson by 0.9% in the 3rd quarter. State Street Corp now owns 5,750,519 shares of the company’s stock worth $4,447,110,000 after purchasing an additional 51,510 shares during the period. Franklin Resources Inc. boosted its stake in McKesson by 3.5% in the 3rd quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock worth $2,071,428,000 after purchasing an additional 90,948 shares during the period. Alliancebernstein L.P. boosted its stake in McKesson by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after purchasing an additional 126,684 shares during the period. Finally, Northern Trust Corp boosted its stake in McKesson by 0.4% in the 3rd quarter. Northern Trust Corp now owns 1,532,856 shares of the company’s stock worth $1,184,193,000 after purchasing an additional 6,613 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

McKesson stock opened at $765.30 on Friday. The firm has a 50-day moving average of $838.23 and a 200-day moving average of $855.53. The company has a market cap of $91.99 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 1.14 and a beta of 0.35. McKesson Corporation has a one year low of $637.00 and a one 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 (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced 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 of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCK. Mizuho increased their price objective on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Morgan Stanley restated an “overweight” rating and set a $966.00 price objective on shares of McKesson in a research note on Thursday, January 29th. TD Cowen increased their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Barclays increased their price objective on shares of McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $968.87.

Insider Activity

In other news, EVP Michele Lau sold 2,725 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $990.00, for a total value of $2,697,750.00. Following the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. This represents a 45.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

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.