OneAscent Financial Services LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 815 shares of the company’s stock, valued at approximately $616,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson in the fourth quarter worth about $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the fourth quarter valued at approximately $26,000. State of Wyoming purchased a new stake in shares of McKesson in the second quarter worth approximately $29,000. Kingdom Financial Group LLC. purchased a new stake in shares of McKesson in the fourth quarter worth approximately $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other McKesson news, Director Bradley E. Lerman sold 301 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% 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. Insiders have sold a total of 29,049 shares of company stock worth $22,530,626 over the last 90 days. 0.06% of the stock is currently owned by insiders.
McKesson Price Performance
McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities research analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.
McKesson Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is presently 10.06%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a report on Thursday, August 6th. TD Cowen raised their price target on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings lowered shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Finally, Morgan Stanley reissued an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $973.44.
View Our Latest Stock Analysis 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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