2,099 McKesson Corporation $MCK Shares Bought by N10 Assets LLC

Key Points

• N10 Assets LLC increased its McKesson stake by 27.9% in the third quarter, purchasing 2,099 additional shares for a total of 9,615 shares valued at approximately $8.2 million. Institutional investors and hedge funds collectively own 85.07% of McKesson.
• McKesson shares rose 1.0% to $971.56, approaching the stock’s 12-month high of $999.00. The company recently exceeded quarterly earnings and revenue expectations, reporting $9.93 in EPS on $105.38 billion in revenue.
• The company raised its quarterly dividend from $0.82 to $0.94 per share, equivalent to an annualized dividend of $3.76 and a 0.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $983.29.

N10 Assets LLC boosted its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 27.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,615 shares of the company's stock after purchasing an additional 2,099 shares during the period. McKesson makes up 3.0% of N10 Assets LLC's investment portfolio, making the stock its 17th largest holding. N10 Assets LLC's holdings in McKesson were worth $8,209,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. First Citizens Bank & Trust Co. increased its holdings in shares of McKesson by 95.9% in the third quarter. First Citizens Bank & Trust Co. now owns 4,830 shares of the company's stock valued at $4,124,000 after purchasing an additional 2,365 shares during the period. Focus Financial Network Inc. raised its stake in shares of McKesson by 67.1% during the third quarter. Focus Financial Network Inc. now owns 707 shares of the company's stock worth $605,000 after purchasing an additional 284 shares during the last quarter. XY Planning Network Inc. lifted its holdings in shares of McKesson by 9.3% during the third quarter. XY Planning Network Inc. now owns 365 shares of the company's stock worth $312,000 after purchasing an additional 31 shares during the period. Signal Advisors Wealth LLC lifted its holdings in shares of McKesson by 95.7% during the third quarter. Signal Advisors Wealth LLC now owns 597 shares of the company's stock worth $510,000 after purchasing an additional 292 shares during the period. Finally, Foster Group Inc. lifted its holdings in shares of McKesson by 5.9% during the third quarter. Foster Group Inc. now owns 360 shares of the company's stock worth $308,000 after purchasing an additional 20 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 1.0%

MCK stock traded up $9.68 on Wednesday, reaching $971.56. 233,123 shares of the company's stock were exchanged, compared to its average volume of 930,378. The stock has a fifty day moving average of $890.43 and a 200-day moving average of $834.56. The firm has a market cap of $113.27 billion, a PE ratio of 26.00, a P/E/G ratio of 2.00 and a beta of 0.30. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion during 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%. McKesson's quarterly revenue 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. On average, equities research analysts predict that McKesson Corporation will post 44.73 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, September 1st. This is an increase from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio (DPR) is currently 10.06%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $845.00 price objective on shares of McKesson in a research report on Monday, September 14th. Bank of America upped their price objective on shares of McKesson from $950.00 to $1,050.00 in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of McKesson from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, September 4th. Barclays lifted their target price on shares of McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Finally, Evercore reaffirmed an "outperform" rating and issued a $950.00 target price (down from $1,000.00) on shares of McKesson in a report on Thursday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $983.29.

Insider Activity

In related news, Director Bradley E. Lerman sold 301 shares of the company's stock in a transaction that occurred 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 legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer directly owned 521 shares of the company's stock, valued at $464,445.45. The trade was a 17.56% 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. Corporate insiders own 0.06% of the company's stock.

McKesson Profile

McKesson Corporation NYSE: MCK is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson's principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.

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