McKesson Corporation $MCK Stake Lessened by Main Street Research LLC

Main Street Research LLC lessened its stake in McKesson Corporation (NYSE:MCK) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,361 shares of the company’s stock after selling 1,531 shares during the period. McKesson comprises about 3.1% of Main Street Research LLC’s investment portfolio, making the stock its 15th largest position. Main Street Research LLC’s holdings in McKesson were worth $55,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GGM Financials LLC bought a new stake in McKesson during the third quarter valued at $25,000. State of Wyoming bought a new stake in McKesson during the second quarter valued at $29,000. Hopwood Financial Services Inc. bought a new stake in McKesson during the third quarter valued at $31,000. Board of the Pension Protection Fund bought a new stake in McKesson during the fourth quarter valued at $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in McKesson during the fourth quarter valued at $33,000. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related 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 completion of the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $3,214,530. This represents a 45.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is owned by insiders.

McKesson Stock Down 0.1%

MCK stock opened at $765.30 on Monday. The company has a market capitalization of $91.99 billion, a P/E ratio of 19.89, a PEG ratio of 1.14 and a beta of 0.35. The company has a 50-day simple moving average of $838.23 and a 200 day simple moving average of $855.78. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts anticipate that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is presently 8.53%.

Analysts Set New Price Targets

MCK has been the subject of several recent research reports. Bank of America lowered their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. William Blair initiated coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Barclays upped their price target on shares of McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company lowered their price target 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. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $968.87.

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.