Gordian Capital Singapore Pte Ltd Increases Position in McKesson Corporation $MCK

Gordian Capital Singapore Pte Ltd increased its stake in McKesson Corporation (NYSE:MCK) by 620.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,440 shares of the company’s stock after purchasing an additional 1,240 shares during the quarter. McKesson accounts for 1.6% of Gordian Capital Singapore Pte Ltd’s investment portfolio, making the stock its 23rd largest position. Gordian Capital Singapore Pte Ltd’s holdings in McKesson were worth $1,181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in MCK. GGM Financials LLC purchased a new position in shares of McKesson in the 3rd quarter valued at about $25,000. State of Wyoming purchased a new position in shares of McKesson in the 2nd quarter valued at about $29,000. Hopwood Financial Services Inc. purchased a new position in shares of McKesson in the 3rd quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC acquired a new stake in McKesson in the 3rd quarter valued at about $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in McKesson in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $767.06 on Tuesday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The stock has a market capitalization of $92.20 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.28 and a beta of 0.31. The firm’s 50-day moving average is $804.38 and its two-hundred day moving average is $848.26.

McKesson (NYSE:MCK) last released its quarterly earnings results 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. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the company earned $10.12 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts forecast that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. This trade represents a 17.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,893 shares of company stock valued at $5,225,385 in the last ninety days. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of research reports. Leerink Partners reissued an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Bank of America lowered 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 research note on Monday, April 6th. JPMorgan Chase & Co. lowered their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Barclays increased their price objective on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $968.87.

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.