999 Shares in McKesson Corporation $MCK Purchased by Wellspring Financial Advisors LLC

Wellspring Financial Advisors LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 999 shares of the company’s stock, valued at approximately $819,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GGM Financials LLC acquired a new position in McKesson in the 3rd quarter valued at about $25,000. State of Wyoming acquired a new position in McKesson in the 2nd quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in McKesson in the 3rd quarter valued at about $33,000. Board of the Pension Protection Fund acquired a new position in McKesson in the 4th quarter valued at about $33,000. Finally, Kingdom Financial Group LLC. acquired a new position in McKesson in the 4th quarter valued at about $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their position. 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 90 days, insiders have sold 6,893 shares of company stock valued at $5,225,385. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Raymond James Financial set a $970.00 price objective on McKesson in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Barclays decreased their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday. Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Finally, UBS Group lifted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

McKesson Trading Up 0.6%

Shares of NYSE MCK opened at $789.20 on Thursday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The stock has a 50 day moving average of $801.42 and a two-hundred day moving average of $847.34. The stock has a market cap of $94.87 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating 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 company had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the previous year, the business earned $10.12 earnings per share. The firm’s revenue for the quarter 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 predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is presently 8.53%.

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.