McKesson Corporation $MCK Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in McKesson Corporation (NYSE:MCK) by 2.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 237,332 shares of the company’s stock after selling 7,082 shares during the period. PNC Financial Services Group Inc. owned approximately 0.19% of McKesson worth $205,378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oslo Pensjonsforsikring AS purchased a new position in shares of McKesson during the 1st quarter worth $365,000. Glenview Trust Co increased its position in shares of McKesson by 15.4% during the 1st quarter. Glenview Trust Co now owns 3,274 shares of the company’s stock worth $2,833,000 after purchasing an additional 437 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in McKesson in the 1st quarter valued at about $64,000. Meeder Asset Management Inc. raised its holdings in McKesson by 20,237.5% in the 1st quarter. Meeder Asset Management Inc. now owns 8,135 shares of the company’s stock valued at $7,040,000 after buying an additional 8,095 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in McKesson by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 356,397 shares of the company’s stock valued at $308,388,000 after buying an additional 4,311 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction on 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 in the company, valued at $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% 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. Insiders sold 28,748 shares of company stock valued at $22,262,035 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MCK. JPMorgan Chase & Co. lowered their target price 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. Barclays reduced their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. UBS Group upped their price objective 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 lowered their price objective 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, TD Cowen dropped their target price on shares of McKesson from $1,012.00 to $989.00 and set a “buy” rating for the company in a report on Tuesday. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $959.00.

McKesson Price Performance

Shares of McKesson stock opened at $813.95 on Thursday. The stock has a market capitalization of $95.30 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 1.36 and a beta of 0.31. The business has a 50-day moving average of $776.87 and a 200 day moving average of $838.43. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

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 company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is currently 8.53%.

McKesson News Roundup

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson raised its quarterly dividend by about 15% to $0.94 per share, signaling confidence in cash flow and capital returns. The increase was announced alongside a new payment schedule for shareholders of record on September 1. McKesson Corporation Raises Quarterly Dividend by 15% to $0.94 Per Share
• Positive Sentiment: Analysts remain constructive overall: TD Cowen lowered its price target slightly to $989 from $1,012 but kept a buy rating, implying meaningful upside from current levels. TD Cowen price target update via Benzinga
• Neutral Sentiment: Recent Zacks articles note that McKesson is drawing investor attention and is still viewed as a strong growth stock, but these pieces are largely commentary rather than new fundamental catalysts. Why McKesson Fell More Than Broader Market
• Neutral Sentiment: Other recent posts focus on stock performance over time and whether MCK is a buy now, but they do not appear to add a major new operational catalyst. Is Trending Stock McKesson Corporation (MCK) a Buy Now?
• Negative Sentiment: McKesson has been declining more than the broader market in recent sessions, reflecting near-term selling pressure even after strong longer-term fundamentals. Here’s Why McKesson (MCK) Fell More Than Broader Market

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.