Union Bancaire Privee UBP SA Purchases 37,876 Shares of McKesson Corporation $MCK

Union Bancaire Privee UBP SA increased its position in shares of McKesson Corporation (NYSE:MCK) by 1,641.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,184 shares of the company’s stock after buying an additional 37,876 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in McKesson were worth $32,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Sterling Capital Management LLC increased its holdings in shares of McKesson by 2.4% during the first quarter. Sterling Capital Management LLC now owns 15,522 shares of the company’s stock valued at $13,432,000 after acquiring an additional 363 shares in the last quarter. Cambient Family Office LLC lifted its holdings in shares of McKesson by 34.8% in the 1st quarter. Cambient Family Office LLC now owns 565 shares of the company’s stock worth $489,000 after purchasing an additional 146 shares in the last quarter. Value Partners Investments Inc. lifted its holdings in shares of McKesson by 2.7% in the 1st quarter. Value Partners Investments Inc. now owns 3,630 shares of the company’s stock worth $3,138,000 after purchasing an additional 97 shares in the last quarter. Narus Financial Partners LLC grew its position in McKesson by 11.1% in the 1st quarter. Narus Financial Partners LLC now owns 490 shares of the company’s stock valued at $424,000 after purchasing an additional 49 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC increased its stake in McKesson by 2.2% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,182 shares of the company’s stock valued at $1,023,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MCK shares. UBS Group upped their price objective on shares of 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 decreased their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. William Blair assumed coverage on shares of McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, Citigroup cut their price target on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $960.53.

McKesson Trading Up 0.1%

Shares of NYSE:MCK opened at $764.38 on Friday. The stock has a market cap of $89.49 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.26 and a beta of 0.31. The stock’s fifty day simple moving average is $777.55 and its two-hundred day simple moving average is $840.29. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.

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

McKesson Announces Dividend

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

Insider Activity

In other news, EVP Michele Lau sold 3,550 shares of the business’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 value of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’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 transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 20,285 shares of company stock worth $15,546,137. Corporate insiders own 0.06% 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.