Northwestern Mutual Wealth Management Co. Buys 688 Shares of McKesson Corporation $MCK

Northwestern Mutual Wealth Management Co. grew its stake in shares of McKesson Corporation (NYSE:MCK) by 8.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,327 shares of the company’s stock after acquiring an additional 688 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in McKesson were worth $7,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. GGM Financials LLC bought a new stake in shares of McKesson during the third quarter valued at about $25,000. State of Wyoming bought a new stake in shares of McKesson during the second quarter valued at about $29,000. Hopwood Financial Services Inc. bought a new stake in shares of McKesson during the third quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of McKesson in the third quarter worth approximately $33,000. Finally, Board of the Pension Protection Fund bought a new position in shares of McKesson in the fourth quarter worth approximately $33,000. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MCK shares. 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 research report on Friday, May 8th. Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. William Blair started coverage on shares of McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Mizuho upped their price objective on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Bank of America decreased their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

Insider Buying and Selling

In other McKesson news, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. 0.08% of the stock is owned by company insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $735.76 on Wednesday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm’s 50 day simple moving average is $816.69 and its two-hundred day simple moving average is $851.56. The stock has a market capitalization of $88.44 billion, a P/E ratio of 19.13, a PEG ratio of 1.10 and a beta of 0.31.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 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 business had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the business earned $10.12 earnings per share. The business’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 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, June 1st. 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.