Jefferies Financial Group Inc. Sells 7,680 Shares of McKesson Corporation $MCK

Jefferies Financial Group Inc. cut its stake in shares of McKesson Corporation (NYSE:MCK) by 52.3% in the fourth quarter, HoldingsChannel reports. The fund owned 7,013 shares of the company’s stock after selling 7,680 shares during the period. Jefferies Financial Group Inc.’s holdings in McKesson were worth $5,753,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. raised its holdings in McKesson by 35.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock valued at $3,931,000 after buying an additional 1,329 shares during the period. Cullen Investment Group LTD. grew its position in McKesson by 550.4% in the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after acquiring an additional 3,952 shares during the last quarter. Private Wealth Partners LLC grew its position in McKesson by 5.6% in the 3rd quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock valued at $24,598,000 after acquiring an additional 1,682 shares during the last quarter. Envestnet Asset Management Inc. grew its position in McKesson by 12.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock valued at $255,438,000 after acquiring an additional 36,451 shares during the last quarter. Finally, AlphaQuest LLC grew its position in McKesson by 91.2% in the 3rd quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock valued at $1,365,000 after acquiring an additional 843 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of NYSE MCK opened at $765.30 on Tuesday. The company has a market cap of $91.99 billion, a PE ratio of 19.89, a P/E/G ratio of 1.14 and a beta of 0.35. The business has a 50-day simple moving average of $834.66 and a two-hundred day simple moving average of $855.23. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share 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 the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter 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, sell-side analysts predict that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have commented on MCK. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Citigroup cut their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Leerink Partners reaffirmed an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Bank of America cut their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Wells Fargo & Company dropped their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $968.87.

Insiders Place Their Bets

In related news, EVP Michele Lau sold 2,725 shares of McKesson 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 transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $3,214,530. This trade represents a 45.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

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.