Gateway Wealth Partners LLC Buys 1,014 Shares of McKesson Corporation $MCK

Gateway Wealth Partners LLC raised its stake in shares of McKesson Corporation (NYSE:MCK) by 269.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,390 shares of the company’s stock after buying an additional 1,014 shares during the quarter. Gateway Wealth Partners LLC’s holdings in McKesson were worth $1,203,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after purchasing an additional 73,109 shares during the last quarter. State Street Corp grew its position in McKesson by 0.5% during the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after purchasing an additional 29,660 shares during the last quarter. Geode Capital Management LLC grew its position in McKesson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after purchasing an additional 25,082 shares during the last quarter. Franklin Resources Inc. increased its stake in McKesson by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after purchasing an additional 144,633 shares in the last quarter. Finally, Norges Bank bought a new stake in McKesson during the 4th quarter valued at about $1,651,137,000. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 28,748 shares of company stock worth $22,262,035. Company insiders own 0.06% of the company’s stock.

McKesson Stock Performance

MCK opened at $891.37 on Wednesday. The stock has a market capitalization of $104.36 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.40 and a beta of 0.31. The company’s 50-day simple moving average is $784.12 and its two-hundred day simple moving average is $839.21. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter last year, the firm posted $10.12 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio is 8.53%.

Analysts Set New Price Targets

MCK has been the subject of several recent analyst reports. Bank of America decreased their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Barclays reduced their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. UBS Group boosted 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Finally, Wells Fargo & Company cut their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $962.67.

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.