3,186 Shares in McKesson Corporation $MCK Bought by Perigon Wealth Management LLC

Key Points

• Perigon Wealth Management initiated a McKesson position by purchasing 3,186 shares valued at approximately $2.4 million. Institutional investors collectively own 85.07% of the company.
• McKesson reported quarterly EPS of $9.93, beating estimates of $9.56, while revenue rose 7.7% year over year to $105.38 billion. The company issued fiscal 2027 EPS guidance of $44.20–$45.00.
• McKesson increased its quarterly dividend from $0.82 to $0.94 per share, although insiders sold about 29,049 shares worth $22.5 million over the past three months. Analysts maintain a “Moderate Buy” consensus with an average price target of $977.

Perigon Wealth Management LLC purchased a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,186 shares of the company's stock, valued at approximately $2,407,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson in the 4th quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in shares of McKesson in the fourth quarter valued at about $26,000. State of Wyoming purchased a new stake in shares of McKesson in the 2nd quarter valued at approximately $29,000. Kingdom Financial Group LLC. purchased a new position in shares of McKesson during the fourth quarter worth $33,000. Finally, Birchwood Financial Partners Inc. acquired a new position in McKesson during the 4th quarter worth approximately $33,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Down 0.9%

NYSE:MCK opened at $861.59 on Tuesday. McKesson Corporation has a 12 month low of $667.50 and a 12 month high of $999.00. The firm has a market cap of $100.45 billion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 1.71 and a beta of 0.30. The company's 50 day moving average is $815.34 and its 200-day moving average is $843.12.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) 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 company had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. During the same quarter in the prior year, the company posted $8.26 EPS. The business's revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts predict that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 dividend yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio is 10.06%.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company's stock, valued at approximately $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 McKesson 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,049 shares of company stock worth $22,530,626 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Morgan Stanley reissued an "overweight" rating on shares of McKesson in a research report on Friday, August 7th. TD Cowen raised their target price on McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Citigroup boosted their price target on McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus price target of $977.00.

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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