742 Shares in McKesson Corporation $MCK Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc bought a new position in shares of McKesson Corporation (NYSE:MCK) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 742 shares of the company’s stock, valued at approximately $609,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after acquiring an additional 73,109 shares in the last quarter. State Street Corp raised its holdings in McKesson by 0.9% during the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock worth $4,447,110,000 after acquiring an additional 51,510 shares in the last quarter. Geode Capital Management LLC raised its stake in McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after buying an additional 25,082 shares during the period. Franklin Resources Inc. raised its stake in McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after buying an additional 144,633 shares during the period. Finally, Alliancebernstein L.P. raised its stake in McKesson by 5.6% in the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after buying an additional 126,684 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of several research analyst reports. Barclays upped their price objective on McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. dropped their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Bank of America dropped their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Citigroup dropped their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $968.87.

Insider Buying and Selling

In related news, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This represents a 17.39% 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. Insiders have sold 6,893 shares of company stock valued at $5,225,385 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of NYSE:MCK opened at $783.71 on Wednesday. The company has a market capitalization of $94.20 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.26 and a beta of 0.31. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The business’s 50 day simple moving average is $802.84 and its 200 day simple moving average is $847.76.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion for 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 firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

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

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.