Vestcor Inc Increases Holdings in McKesson Corporation $MCK

Vestcor Inc raised its position in McKesson Corporation (NYSE:MCK) by 36.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,964 shares of the company’s stock after purchasing an additional 5,914 shares during the period. Vestcor Inc’s holdings in McKesson were worth $18,017,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GGM Financials LLC acquired a new stake in McKesson during the 3rd quarter valued at $25,000. State of Wyoming purchased a new stake in McKesson in the 2nd quarter valued at about $29,000. Hopwood Financial Services Inc. purchased a new stake in McKesson in the third quarter valued at approximately $31,000. Board of the Pension Protection Fund purchased a new stake in shares of McKesson during the 4th quarter valued at $33,000. Finally, Kingdom Financial Group LLC. purchased a new stake in McKesson during the fourth quarter valued at about $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McKesson news, EVP Michele Lau sold 3,550 shares of McKesson 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 approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 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 $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,760 shares of company stock valued at $5,123,773 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MCK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Bank of America cut their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Wells Fargo & Company dropped their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Finally, Barclays increased their price objective 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. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $968.87.

McKesson Trading Up 2.6%

Shares of McKesson stock opened at $776.51 on Friday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a market cap of $93.34 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 1.25 and a beta of 0.31. The company’s 50-day moving average price is $806.32 and its two-hundred day moving average price is $848.96.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts predict that McKesson Corporation will post 44.27 EPS for the current fiscal year.

McKesson Announces Dividend

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

McKesson Company 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.