ProShare Advisors LLC Has $20.83 Million Holdings in McKesson Corporation $MCK

ProShare Advisors LLC increased its stake in shares of McKesson Corporation (NYSE:MCK) by 15.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,390 shares of the company’s stock after acquiring an additional 3,435 shares during the period. ProShare Advisors LLC’s holdings in McKesson were worth $20,827,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. GGM Financials LLC acquired a new position in McKesson during the third quarter worth $25,000. State of Wyoming acquired a new stake in shares of McKesson in the 2nd quarter valued at $29,000. Hopwood Financial Services Inc. acquired a new stake in shares of McKesson in the 3rd quarter valued at $31,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of McKesson in the 3rd quarter worth about $33,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of McKesson in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MCK shares. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday. Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. TD Cowen raised their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. Finally, Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

Insider Transactions at McKesson

In other McKesson news, EVP Michele Lau sold 2,725 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. This represents a 45.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Down 0.9%

Shares of NYSE:MCK opened at $755.39 on Thursday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The company’s 50-day moving average price is $844.88 and its two-hundred day moving average price is $856.50. The firm has a market cap of $90.80 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.14 and a beta of 0.35.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping 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 company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the previous year, the firm posted $10.12 earnings per share. The company’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 analysts predict that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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