3,546 Shares in McKesson Corporation $MCK Bought by Equitable Holdings Inc.

Equitable Holdings Inc. bought a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,546 shares of the company's stock, valued at approximately $2,680,000.

Several other hedge funds have also recently added to or reduced their stakes in MCK. Brighton Jones LLC raised its stake in McKesson by 46.3% in the 4th 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 McKesson in the 1st quarter worth approximately $233,000. Sivia Capital Partners LLC grew its holdings in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock valued at $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock worth $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson during the 2nd quarter worth $166,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas L. Rodgers sold 699 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. This represents a 23.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 23,111 shares of company stock valued at $18,011,274. Company insiders own 0.06% of the company's stock.

McKesson Trading Down 0.7%

MCK stock opened at $890.20 on Friday. McKesson Corporation has a 52 week low of $677.28 and a 52 week high of $999.00. The company has a market capitalization of $103.79 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30. The firm's 50-day moving average is $830.40 and its two-hundred day moving average is $843.76.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $103.88 billion. During the same period last year, the firm posted $8.26 earnings per share. 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. On average, equities research analysts predict that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared 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. 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. This is an increase from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio is 8.78%.

Analyst Upgrades and Downgrades

MCK has been the topic of several analyst reports. Wells Fargo & Company increased their target price on McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada initiated coverage on shares of McKesson in a research note on Wednesday, August 19th. They issued a "sector perform" rating and a $845.00 price target on the stock. Barclays lifted their price target on McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Wall Street Zen lowered McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Finally, Citigroup raised their target price on McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $973.44.

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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