Uniting Wealth Partners LLC acquired a new stake in McKesson Corporation (NYSE:MCK – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 673 shares of the company’s stock, valued at approximately $509,000.
Several other institutional investors have also modified their holdings of MCK. Brighton Jones LLC increased its holdings in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares during the last quarter. Caxton Associates LLP acquired a new stake in McKesson in the first quarter valued at $233,000. Sivia Capital Partners LLC lifted its holdings in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after buying an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of McKesson during the 2nd quarter worth about $166,000. 85.07% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at McKesson
In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,049 shares of company stock worth $22,530,626 in the last three months. Company insiders own 0.06% of the company’s stock.
McKesson Stock Performance
McKesson (NYSE:MCK – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The business had revenue of $105.38 billion for 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 company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts forecast that McKesson Corporation will post 44.65 EPS for the current fiscal year.
McKesson Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is currently 8.78%.
Analysts Set New Price Targets
MCK has been the topic of several research analyst reports. Morgan Stanley reissued an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. JPMorgan Chase & Co. lowered their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Evercore reiterated an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective 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 given a Hold rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $977.00.
Read Our Latest Research Report on MCK
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.
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