Marietta Investment Partners LLC Takes Position in McKesson Corporation $MCK

Marietta Investment Partners LLC purchased a new stake in McKesson Corporation (NYSE:MCK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,249 shares of the company’s stock, valued at approximately $1,025,000.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after buying an additional 73,109 shares in the last quarter. State Street Corp increased its position in shares of McKesson by 0.9% in the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock valued at $4,447,110,000 after buying an additional 51,510 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 in the last quarter. Franklin Resources Inc. increased its position in shares of McKesson by 3.5% in the third quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock valued at $2,071,428,000 after buying an additional 90,948 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Mizuho lifted their price objective on McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Raymond James Financial set a $970.00 price objective on McKesson in a research report on Thursday, March 5th. Bank of America dropped their price objective on 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. Finally, Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $968.87.

Insider Transactions at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, 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. Over the last three months, insiders sold 6,760 shares of company stock worth $5,123,773. 0.08% of the stock is owned by corporate insiders.

McKesson Trading Up 0.5%

Shares of NYSE:MCK opened at $740.43 on Thursday. The stock’s 50-day moving average price is $810.87 and its two-hundred day moving average price is $850.07. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The firm has a market cap of $89.00 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.10 and a beta of 0.31.

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. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period last year, the company earned $10.12 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts forecast that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) 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.