Sterling Capital Management LLC Sells 13,842 Shares of McKesson Corporation $MCK

Sterling Capital Management LLC lowered its stake in McKesson Corporation (NYSE:MCK) by 82.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,893 shares of the company’s stock after selling 13,842 shares during the period. Sterling Capital Management LLC’s holdings in McKesson were worth $2,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of McKesson during the second quarter worth $8,156,743,000. Bank of America Corp DE acquired a new position in shares of McKesson in the 2nd quarter valued at $998,896,000. Legal & General Group Plc acquired a new position in shares of McKesson in the 2nd quarter valued at $656,566,000. The Manufacturers Life Insurance Company acquired a new position in shares of McKesson in the 2nd quarter valued at $651,462,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of McKesson in the 2nd quarter valued at $599,060,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.0%

NYSE:MCK opened at $1,000.53 on Monday. McKesson Corporation has a 52 week low of $723.68 and a 52 week high of $1,030.27. The stock has a market capitalization of $116.65 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.99 and a beta of 0.30. The stock’s 50-day moving average price is $911.33 and its 200-day moving average price is $842.29.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. McKesson’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts expect that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a $0.94 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 10.06%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. UBS Group boosted their price target on McKesson from $1,080.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Evercore reissued an “outperform” rating and issued a $950.00 price objective (down from $1,000.00) on shares of McKesson in a report on Thursday, August 6th. Morgan Stanley set a $977.00 price objective on McKesson in a research note on Tuesday, October 6th. Finally, Robert W. Baird set a $1,015.00 price objective on McKesson in a research note on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $997.12.

Insider Activity

In other news, EVP Francisco Fraga sold 800 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the completion of the transaction, the executive vice president directly owned 5,423 shares of the company’s stock, valued at $5,400,223.40. This represents a 12.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders sold 1,212 shares of company stock worth $1,164,182 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

McKesson Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.