Patton Fund Management Inc. Grows Stake in McKesson Corporation $MCK

Patton Fund Management Inc. raised its position in McKesson Corporation (NYSE:MCK) by 64.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,354 shares of the company’s stock after acquiring an additional 2,878 shares during the period. Patton Fund Management Inc.’s holdings in McKesson were worth $6,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MCK. State Street Corp lifted its holdings in shares of McKesson by 0.9% in the 3rd quarter. State Street Corp now owns 5,750,519 shares of the company’s stock worth $4,447,110,000 after acquiring an additional 51,510 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of McKesson by 3.5% in the 3rd quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock worth $2,071,428,000 after acquiring an additional 90,948 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of McKesson by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after acquiring an additional 126,684 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of McKesson by 0.4% in the 3rd quarter. Northern Trust Corp now owns 1,532,856 shares of the company’s stock worth $1,184,193,000 after acquiring an additional 6,613 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of McKesson by 6.7% in the 3rd quarter. Boston Partners now owns 1,330,953 shares of the company’s stock worth $1,027,569,000 after acquiring an additional 83,357 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total value of $2,697,750.00. Following the completion of the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $955.00, for a total transaction of $313,240.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,592 shares of company stock valued at $3,518,555. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on MCK shares. Wells Fargo & Company upped their price objective on shares of McKesson from $914.00 to $925.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. upped their target price on shares of McKesson from $983.00 to $1,107.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $966.00 target price on shares of McKesson in a research note on Thursday, January 29th. 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. Finally, Weiss Ratings downgraded shares of McKesson from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $970.93.

McKesson Price Performance

NYSE MCK opened at $863.51 on Tuesday. The company has a market capitalization of $105.77 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.25 and a beta of 0.42. The firm’s fifty day moving average price is $916.57 and its 200 day moving average price is $852.76. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, topping the consensus estimate of $9.19 by $0.15. The company had revenue of $106.16 billion during the quarter, compared to analysts’ expectations of $105.98 billion. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $8.03 EPS. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. As a group, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were issued a dividend of $0.82 per share. The ex-dividend date was Monday, March 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 9.43%.

McKesson 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.