Wellington Management Group LLP Increases Stock Holdings in McKesson Corporation $MCK

Wellington Management Group LLP increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 18.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,233 shares of the company’s stock after buying an additional 7,609 shares during the quarter. Wellington Management Group LLP’s holdings in McKesson were worth $36,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MCK. BlackRock Inc. acquired a new position in shares of McKesson during the 2nd quarter valued at about $8,156,743,000. Norges Bank purchased a new stake in shares of McKesson during the 4th quarter worth about $1,651,137,000. Bank of America Corp DE acquired a new stake in shares of McKesson in the second quarter worth $998,896,000. Legal & General Group Plc acquired a new stake in McKesson in the 2nd quarter valued at $656,566,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of McKesson during the 2nd quarter valued at about $651,462,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 1.5%

Shares of MCK opened at $907.35 on Friday. McKesson Corporation has a 52 week low of $682.35 and a 52 week high of $999.00. The firm has a market cap of $105.79 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.83 and a beta of 0.30. The stock has a 50 day moving average of $848.13 and a 200-day moving average of $843.09.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, sell-side analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio is 10.06%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MCK shares. UBS Group lifted their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. cut 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 report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $973.44.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 22,156 shares of company stock valued at $17,305,242. 0.06% of the stock is currently 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.