Russell Investments Group Ltd. Reduces Holdings in McKesson Corporation $MCK

Russell Investments Group Ltd. lowered its stake in shares of McKesson Corporation (NYSE:MCK) by 15.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,418 shares of the company’s stock after selling 48,757 shares during the quarter. Russell Investments Group Ltd. owned about 0.22% of McKesson worth $223,755,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of 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 buying an additional 798 shares during the period. Caxton Associates LLP acquired a new position in shares of McKesson in the 1st quarter valued at $233,000. Sivia Capital Partners LLC increased its position in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after acquiring an additional 300 shares during the period. Treasurer of the State of North Carolina raised its stake in McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in McKesson during the 2nd quarter worth about $166,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCK has been the topic of several research analyst reports. Evercore reiterated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Wells Fargo & Company decreased their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. 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 report on Friday, May 8th. Bank of America reduced their price target on shares of 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, JPMorgan Chase & Co. decreased their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $960.53.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 11,822 shares of company stock worth $8,986,212. Company insiders own 0.08% of the company’s stock.

McKesson Stock Up 0.9%

Shares of McKesson stock opened at $786.55 on Wednesday. The firm has a market cap of $92.09 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.28 and a beta of 0.31. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The business’s fifty day simple moving average is $794.00 and its 200-day simple moving average is $844.72.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $101.35 billion. During the same period last year, the company earned $10.12 EPS. The company’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, equities analysts expect that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed 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 dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 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.