2,959 McKesson Corporation $MCK Shares Sold by Heritage Investors Management Corp

by · The Markets Daily

Heritage Investors Management Corp reduced its position in McKesson Corporation (NYSE:MCK – Free Report) by 14.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,279 shares of the company’s stock after selling 2,959 shares during the quarter. Heritage Investors Management Corp’s holdings in McKesson were worth $14,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nvwm LLC raised its holdings in McKesson by 933.3% during the third quarter. Nvwm LLC now owns 31 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the period. Delos Wealth Advisors LLC bought a new stake in McKesson during the 2nd quarter valued at approximately $27,000. Trellis Wealth Advisors LLC purchased a new position in McKesson in the 3rd quarter worth approximately $32,000. Clearstead Trust LLC bought a new position in McKesson in the 2nd quarter worth approximately $37,000. Finally, GK Wealth Management LLC purchased a new stake in McKesson during the 3rd quarter valued at approximately $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCK. Evercore reiterated an “outperform” rating and set a $950.00 price objective (down from $1,000.00) on shares of McKesson in a research report on Thursday, August 6th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research report on Thursday, August 6th. Leerink Partners raised their target price on shares of McKesson from $1,030.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Wednesday, October 7th. Morgan Stanley set a $977.00 price target on shares of McKesson in a research note on Tuesday, October 6th. Finally, Citigroup increased their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $997.12.

Read Our Latest Stock Report on McKesson

McKesson Stock Up 0.0%

Shares of MCK opened at $994.77 on Monday. McKesson Corporation has a 52-week low of $723.68 and a 52-week high of $1,030.27. The business has a fifty day moving average of $922.54 and a 200 day moving average of $862.89. The company has a market cap of $115.98 billion, a PE ratio of 26.62, a P/E/G ratio of 1.98 and a beta of 0.27.

McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts anticipate that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Activity at McKesson

In related news, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Francisco Fraga sold 800 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the transaction, the executive vice president owned 5,423 shares in the company, valued at approximately $5,400,223.40. This trade represents a 12.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,212 shares of company stock worth $1,164,182 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

McKesson Company Profile

(Free Report)

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.

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