Tiemann Investment Advisors LLC purchased a new position in shares of McKesson Corporation (NYSE:MCK – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 648 shares of the company’s stock, valued at approximately $490,000.
Other institutional investors also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after buying an additional 11 shares during the period. Investment Research Partners LLC grew its position in McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after acquiring an additional 11 shares during the period. IHT Wealth Management LLC grew its position in McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after acquiring an additional 11 shares during the period. LRI Investments LLC increased its stake in McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after acquiring an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC increased its stake in McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after acquiring an additional 12 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently commented on MCK. Barclays cut their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. JPMorgan Chase & Co. reduced their target price 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. William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Finally, UBS Group upped their target price on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $977.00.
McKesson Trading Down 0.9%
Shares of MCK stock opened at $861.59 on Tuesday. The firm has a fifty day simple moving average of $815.34 and a 200-day simple moving average of $843.12. The company has a market capitalization of $100.45 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. McKesson Corporation has a twelve month low of $667.50 and a twelve month high of $999.00.
McKesson (NYSE:MCK – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities research analysts predict that McKesson Corporation will post 44.65 EPS for the current 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 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 (DPR) is currently 10.06%.
Insider Transactions at McKesson
In other news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’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 transaction of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their position. 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. Insiders have sold a total of 29,049 shares of company stock valued at $22,530,626 in the last three months. 0.06% of the stock is currently owned by company insiders.
McKesson 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.
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