HighTower Advisors LLC Grows Stock Holdings in McKesson Corporation $MCK

HighTower Advisors LLC lifted its position in shares of McKesson Corporation (NYSE:MCK) by 35.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 78,367 shares of the company’s stock after purchasing an additional 20,681 shares during the period. HighTower Advisors LLC’s holdings in McKesson were worth $64,284,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position 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 purchasing an additional 73,109 shares during the last quarter. State Street Corp boosted its holdings in McKesson by 0.9% in the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock valued at $4,447,110,000 after purchasing an additional 51,510 shares in the last quarter. Franklin Resources Inc. boosted its holdings in McKesson by 3.5% in the third quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock valued at $2,071,428,000 after purchasing an additional 90,948 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in McKesson by 5.6% in the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after purchasing an additional 126,684 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in McKesson by 0.4% in the third quarter. Northern Trust Corp now owns 1,532,856 shares of the company’s stock valued at $1,184,193,000 after purchasing an additional 6,613 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of McKesson stock opened at $755.39 on Thursday. The firm’s fifty day simple moving average is $844.88 and its 200-day simple moving average is $856.50. The stock has a market capitalization of $90.80 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.14 and a beta of 0.35. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous 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 44.29 earnings per share for the current year.

McKesson Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on MCK. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $966.00 price target on shares of McKesson in a report on Thursday, January 29th. UBS Group raised their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Bank of America dropped their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Evercore reaffirmed an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $968.87.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 2,725 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $3,214,530. This represents a 45.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by insiders.

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.