Franklin Resources Inc. Increases Position in McKesson Corporation $MCK

Franklin Resources Inc. lifted its position in shares of McKesson Corporation (NYSE:MCK) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,825,954 shares of the company’s stock after buying an additional 144,633 shares during the period. Franklin Resources Inc. owned 2.31% of McKesson worth $2,318,102,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MCK. Brighton Jones LLC raised its stake in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the period. Caxton Associates LLP purchased a new position in McKesson during the first quarter worth approximately $233,000. Sivia Capital Partners LLC raised its stake in McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina raised its stake in McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after purchasing an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new position in McKesson during the second quarter worth approximately $166,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MCK. Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. UBS Group increased their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Citigroup cut their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $968.87.

Insider Buying and Selling at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their position. 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. Also, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. The trade was a 23.56% 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 6,760 shares of company stock valued at $5,123,773 in the last three months. Company insiders own 0.08% of the company’s stock.

McKesson Stock Up 0.1%

McKesson stock opened at $776.51 on Monday. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The firm has a fifty day moving average of $806.32 and a 200-day moving average of $848.92. The firm has a market capitalization of $93.34 billion, a P/E ratio of 20.18, a PEG ratio of 1.28 and a beta of 0.31.

McKesson (NYSE:MCK) last released 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 during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the prior year, the business earned $10.12 earnings per share. The business’s quarterly 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. On average, research analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

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