McKesson Corporation $MCK Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its position in shares of McKesson Corporation (NYSE:MCK) by 9.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,316 shares of the company’s stock after selling 2,024 shares during the quarter. ProShare Advisors LLC’s holdings in McKesson were worth $16,492,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its holdings in McKesson by 2.8% in the third quarter. Rosenberg Matthew Hamilton now owns 406 shares of the company’s stock valued at $347,000 after buying an additional 11 shares during the period. Avail Investment Partners LLC grew its stake in shares of McKesson by 1.7% in the 3rd quarter. Avail Investment Partners LLC now owns 662 shares of the company’s stock valued at $566,000 after buying an additional 11 shares during the period. Commonwealth Financial Services LLC grew its stake in shares of McKesson by 3.8% in the 3rd quarter. Commonwealth Financial Services LLC now owns 304 shares of the company’s stock valued at $260,000 after buying an additional 11 shares during the period. Stephens Inc. AR increased its position in McKesson by 0.8% in the 1st quarter. Stephens Inc. AR now owns 1,581 shares of the company’s stock valued at $1,368,000 after buying an additional 12 shares in the last quarter. Finally, WealthPLAN Partners LLC increased its position in McKesson by 0.4% in the 3rd quarter. WealthPLAN Partners LLC now owns 3,190 shares of the company’s stock valued at $2,724,000 after buying an additional 12 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $1,001.05 on Tuesday. McKesson Corporation has a 52-week low of $723.68 and a 52-week high of $1,030.27. The stock’s 50-day simple moving average is $925.32 and its 200 day simple moving average is $863.78. The stock has a market capitalization of $116.71 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.91 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its 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 firm had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities research analysts forecast that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Insider Buying and Selling

In related news, CAO B Jr sold 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer directly owned 521 shares in the company, valued at approximately $464,445.45. The trade was a 17.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 800 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $995.80, for a total transaction of $796,640.00. Following the sale, the executive vice president directly owned 5,423 shares in the company, valued at $5,400,223.40. The trade was a 12.86% 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. In the last ninety days, insiders sold 1,212 shares of company stock valued at $1,164,182. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MCK. Citigroup upped their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $845.00 target price on shares of McKesson in a report on Monday, September 14th. Argus raised their target price on McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Bank of America lifted their target price on McKesson from $950.00 to $1,050.00 in a research report on Thursday, August 6th. Finally, Leerink Partners lifted their price target on McKesson from $1,030.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Wednesday, October 7th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $997.12.

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.