McKesson Corporation $MCK Shares Sold by Renaissance Group LLC

by · The Markets Daily

Renaissance Group LLC cut its stake in shares of McKesson Corporation (NYSE:MCK – Free Report) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,204 shares of the company’s stock after selling 2,522 shares during the quarter. McKesson comprises approximately 1.5% of Renaissance Group LLC’s investment portfolio, making the stock its 15th biggest holding. Renaissance Group LLC’s holdings in McKesson were worth $37,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of McKesson by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after purchasing an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC grew its position in McKesson by 2.9% during the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after buying an additional 12 shares during the period. LRI Investments LLC increased its holdings in McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock valued at $91,000 after buying an additional 12 shares in the last quarter. Macroview Investment Management LLC increased its holdings in McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after buying an additional 12 shares in the last quarter. Finally, Berkshire Asset Management LLC PA raised its position in shares of McKesson by 4.6% in the third quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock worth $227,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MCK shares. Leerink Partners restated an “outperform” rating and set a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. 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 company has an average rating of “Moderate Buy” and a consensus target price of $960.53.

Read Our Latest Research Report on MCK

McKesson Trading Up 0.6%

Shares of NYSE:MCK opened at $789.20 on Thursday. The company has a market capitalization of $94.87 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.29 and a beta of 0.31. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The business has a 50-day moving average price of $801.42 and a 200 day moving average price of $847.34.

McKesson (NYSE:MCK – Get Free Report) last announced its 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. 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 during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter last year, the firm posted $10.12 earnings per share. McKesson’s revenue 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, equities research analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at $1,667,592.36. This trade represents a 23.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,893 shares of company stock worth $5,225,385. Insiders own 0.08% of the company’s stock.

About McKesson

(Free Report)

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.

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