Edmond DE Rothschild Holding S.A. purchased a new position in McKesson Corporation (NYSE:MCK – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,437 shares of the company’s stock, valued at approximately $4,864,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. Brighton Jones LLC lifted its position 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 purchasing an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of McKesson in the first quarter worth $233,000. Sivia Capital Partners LLC raised its holdings in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after buying an additional 300 shares during the last quarter. Treasurer of the State of North Carolina boosted its position 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 valued at $42,958,000 after buying an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. bought a new stake in McKesson in the 2nd quarter worth $166,000. 85.07% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Citigroup boosted their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. TD Cowen raised their price target on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price objective on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.
McKesson Price Performance
NYSE:MCK opened at $853.53 on Thursday. The firm has a market capitalization of $99.51 billion, a P/E ratio of 22.84, a PEG ratio of 1.71 and a beta of 0.30. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00. The company’s 50-day simple moving average is $818.34 and its 200 day simple moving average is $843.66.
McKesson (NYSE:MCK – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter last year, the firm earned $8.26 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.
McKesson Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 is a positive change 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%. McKesson’s dividend payout ratio (DPR) is presently 8.78%.
Insider Buying and Selling at McKesson
In other McKesson news, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the sale, the executive vice president directly owned 3,090 shares in the company, valued at approximately $2,351,768.10. This represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 29,049 shares of company stock valued at $22,530,626 in the last ninety days. 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.
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