Aristotle Atlantic Partners LLC Takes $1.73 Million Position in McKesson Corporation $MCK

Aristotle Atlantic Partners LLC acquired a new position in McKesson Corporation (NYSE:MCK) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,000 shares of the company’s stock, valued at approximately $1,731,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. Vanguard Group Inc. boosted its stake in shares of McKesson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after acquiring an additional 73,109 shares in the last quarter. State Street Corp lifted its holdings in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after purchasing an additional 29,660 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of McKesson by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after purchasing an additional 25,082 shares during the period. Franklin Resources Inc. boosted its position in shares of McKesson by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after purchasing an additional 144,633 shares during the period. Finally, Norges Bank purchased a new position in McKesson in the 4th quarter worth about $1,651,137,000. 85.07% of the stock is currently owned by institutional investors.

McKesson News Roundup

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson boosted its quarterly dividend to $0.94 per share from $0.82, signaling management confidence in cash flow and returning more capital to shareholders. McKesson Raises Quarterly Dividend by 15%
• Positive Sentiment: Shareholders backed the board, auditors, and executive compensation at the annual meeting, reducing governance uncertainty. McKesson Shareholders Back Board, Auditors, and Executive Pay
• Neutral Sentiment: Recent commentary from analysts has been mixed, with one piece noting conflicting views on McKesson and other healthcare names, which may keep sentiment balanced in the near term. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Neutral Sentiment: TD Cowen reportedly lowered expectations for McKesson’s stock price, adding a cautionary note despite the company’s strong operational backdrop. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

McKesson Stock Up 2.0%

McKesson stock opened at $840.76 on Friday. The company’s fifty day simple moving average is $780.04 and its 200-day simple moving average is $838.46. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock has a market cap of $98.44 billion, a P/E ratio of 21.85, a P/E/G ratio of 1.38 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 business had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.McKesson’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 8.53%.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% 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. Insiders have sold 28,748 shares of company stock valued at $22,262,035 over the last three months. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on MCK shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Wells Fargo & Company decreased their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Barclays reduced their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $962.67.

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.