Great Lakes Advisors LLC Takes $30.75 Million Position in McKesson Corporation $MCK

Great Lakes Advisors LLC purchased a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent filing with the SEC. The firm purchased 40,693 shares of the company’s stock, valued at approximately $30,747,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MCK. Meiji Yasuda Asset Management Co Ltd. increased its stake in McKesson by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares in the last quarter. Investment Research Partners LLC raised its holdings in McKesson by 0.7% in the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after purchasing an additional 11 shares during the period. IHT Wealth Management LLC boosted its position in shares of McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after purchasing an additional 11 shares in the last quarter. LRI Investments LLC boosted its position in shares of McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares in the last quarter. Finally, Macroview Investment Management LLC grew its holdings in shares of McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after buying an additional 12 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MCK. TD Cowen upped their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Wells Fargo & Company boosted their target price on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Citigroup raised their price target on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $977.00.

McKesson Price Performance

McKesson stock opened at $869.73 on Wednesday. The company has a market cap of $101.40 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.71 and a beta of 0.30. The firm has a 50-day moving average of $817.06 and a 200-day moving average of $843.43. McKesson Corporation has a one year low of $667.50 and a one year high of $999.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the previous year, the business earned $8.26 earnings per share. McKesson’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is presently 8.78%.

Insider Activity at McKesson

In other news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% 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. Over the last quarter, insiders have sold 29,049 shares of company stock worth $22,530,626. Insiders own 0.06% of the company’s stock.

McKesson Company 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.