Mariner LLC Has $112.38 Million Position in McKesson Corporation $MCK

Mariner LLC increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 20.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 136,986 shares of the company’s stock after acquiring an additional 22,989 shares during the period. Mariner LLC’s holdings in McKesson were worth $112,382,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MCK. Brighton Jones LLC boosted its position in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares in the last quarter. Caxton Associates LLP bought a new position in McKesson during the 1st quarter valued at about $233,000. Sivia Capital Partners LLC lifted its holdings in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson during the 2nd quarter valued at about $166,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MCK shares. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Wells Fargo & Company cut their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Citigroup cut their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They set an “outperform” rating for the company. Finally, Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Fourteen 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, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $960.53.

McKesson Trading Down 0.6%

Shares of NYSE MCK opened at $779.35 on Tuesday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The company has a 50-day moving average of $795.97 and a two-hundred day moving average of $845.41. The company has a market cap of $93.68 billion, a PE ratio of 20.26, a P/E/G ratio of 1.29 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, topping the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the previous year, the company earned $10.12 EPS. McKesson’s 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 research analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is currently 8.53%.

Insider Buying and Selling at McKesson

In other news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, 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 position. The sale 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 4,929 shares of McKesson stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the sale, the chief executive officer owned 22,845 shares of the company’s stock, valued at approximately $17,430,735. This represents a 17.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,822 shares of company stock worth $8,986,212 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

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.