McKesson Corporation $MCK Stock Holdings Lessened by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC lowered its stake in McKesson Corporation (NYSE:MCK) by 3.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 110,544 shares of the company’s stock after selling 4,393 shares during the quarter. McKesson accounts for about 2.6% of Anchor Capital Advisors LLC’s portfolio, making the stock its biggest holding. Anchor Capital Advisors LLC’s holdings in McKesson were worth $90,678,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in MCK. Vanguard Group Inc. raised its holdings in shares of McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after acquiring an additional 73,109 shares during the last quarter. State Street Corp boosted its stake in shares of McKesson by 0.9% in the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock worth $4,447,110,000 after acquiring an additional 51,510 shares during the last quarter. Geode Capital Management LLC increased its position in shares of McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after purchasing an additional 25,082 shares in the last quarter. Franklin Resources Inc. increased its position in shares of McKesson by 3.5% during the third quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock worth $2,071,428,000 after purchasing an additional 90,948 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in McKesson by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after purchasing an additional 126,684 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Barclays raised their price target on shares of McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Leerink Partners restated an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $968.87.

Insider Activity at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction 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 directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% 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. 0.08% of the stock is currently owned by company insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $735.76 on Wednesday. The company has a 50 day simple moving average of $816.69 and a 200-day simple moving average of $851.56. The company has a market capitalization of $88.44 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.10 and a beta of 0.31. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the business posted $10.12 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts expect that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is presently 8.53%.

About McKesson

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.