Wellspring Financial Advisors LLC Takes Position in McKesson Corporation $MCK

Wellspring Financial Advisors LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 999 shares of the company’s stock, valued at approximately $819,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Cullen Investment Group LTD. increased its holdings in shares of McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after acquiring an additional 3,952 shares in the last quarter. Pensionfund Sabic acquired a new position in shares of McKesson during the fourth quarter valued at about $1,887,000. Varma Mutual Pension Insurance Co increased its holdings in shares of McKesson by 28.9% during the third quarter. Varma Mutual Pension Insurance Co now owns 21,853 shares of the company’s stock valued at $16,882,000 after acquiring an additional 4,900 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of McKesson by 18.8% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,009 shares of the company’s stock valued at $7,732,000 after acquiring an additional 1,585 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of McKesson by 24.3% during the third quarter. PNC Financial Services Group Inc. now owns 242,256 shares of the company’s stock valued at $187,152,000 after acquiring an additional 47,352 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. This trade represents a 17.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 stock was 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 approximately $2,351,768.10. This represents a 43.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last 90 days, insiders have sold 6,893 shares of company stock worth $5,225,385. Corporate insiders own 0.08% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $789.20 on Thursday. The company has a market cap of $94.87 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.29 and a beta of 0.31. The stock has a 50 day simple moving average of $801.42 and a 200-day simple moving average of $847.34. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results 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. The business had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed 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. The ex-dividend date 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 (DPR) is presently 8.53%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCK. Bank of America cut their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, William Blair initiated coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $960.53.

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.