3,700 Shares in McKesson Corporation $MCK Bought by Stonehage Fleming Financial Services Holdings Ltd

Key Points

• Stonehage Fleming acquired 3,700 McKesson shares worth approximately $2.8 million, while institutional investors collectively own 85.07% of the company.
• McKesson reported quarterly EPS of $9.93, beating estimates of $9.56, as revenue rose 7.7% year over year to $105.38 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $973.44, and McKesson raised its quarterly dividend to $0.94 per share from $0.82.

Stonehage Fleming Financial Services Holdings Ltd acquired a new position in McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,700 shares of the company's stock, valued at approximately $2,796,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new position in McKesson in the fourth quarter valued at about $26,000. Delos Wealth Advisors LLC acquired a new stake in McKesson during the 2nd quarter valued at approximately $27,000. State of Wyoming acquired a new stake in McKesson during the 2nd quarter valued at approximately $29,000. Finally, Kingdom Financial Group LLC. purchased a new stake in McKesson during the 4th quarter worth approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. This represents a 17.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the firm'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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,111 shares of company stock valued at $18,011,274 over the last three months. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Morgan Stanley restated an "overweight" rating on shares of McKesson in a research note on Friday, August 7th. TD Cowen upped their price target on shares of McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a research note on Thursday, August 6th. Finally, Wall Street Zen lowered shares of McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $973.44.

McKesson Trading Down 0.7%

Shares of MCK opened at $890.20 on Friday. The firm has a market cap of $103.79 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.76 and a beta of 0.30. The stock has a 50 day moving average of $830.40 and a 200-day moving average of $843.76. McKesson Corporation has a 52 week low of $677.28 and a 52 week high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $103.88 billion. During the same period last year, the firm posted $8.26 EPS. The company'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, sell-side analysts predict that McKesson Corporation will post 44.65 earnings per share 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 issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson's dividend payout ratio is currently 8.78%.

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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