Turtle Creek Wealth Advisors LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 499 shares of the company's stock, valued at approximately $366,000.
A number of other institutional investors have also made changes to their positions in MCK. Bank of Jackson Hole Trust grew its stake in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after purchasing an additional 18 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after acquiring an additional 41 shares during the period. GFG Capital LLC acquired a new position in McKesson in the second quarter valued at about $30,000. Saudi Central Bank acquired a new position in McKesson in the first quarter valued at about $34,000. Finally, Flaharty Asset Management LLC acquired a new position in McKesson in the first quarter valued at about $39,000. 85.07% of the stock is owned by institutional investors and hedge funds.
McKesson Price Performance
Shares of McKesson stock opened at $775.43 on Friday. The firm has a market cap of $96.45 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. The stock's 50-day moving average is $714.06 and its 200-day moving average is $709.17. McKesson Corporation has a one year low of $492.39 and a one year high of $793.97.
McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the previous year, the company posted $7.88 EPS. The business's revenue was up 23.4% on a year-over-year basis. On average, equities analysts expect that McKesson Corporation will post 32.77 EPS for the current year.
McKesson Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. The ex-dividend date was Tuesday, September 2nd. This is a boost from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio is currently 13.08%.
Wall Street Analyst Weigh In
A number of research firms have issued reports on MCK. Jefferies Financial Group boosted their target price on McKesson from $820.00 to $900.00 and gave the company a "buy" rating in a research note on Monday. TD Cowen boosted their target price on McKesson from $830.00 to $864.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Cowen reissued a "buy" rating on shares of McKesson in a research note on Wednesday, September 24th. Mizuho boosted their target price on McKesson from $750.00 to $770.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Finally, UBS Group boosted their price target on McKesson from $820.00 to $860.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus price target of $834.54.
Read Our Latest Stock Report on MCK
Insider Activity
In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock worth $16,722,190 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.
About McKesson
(
Free Report)
McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider McKesson, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and McKesson wasn't on the list.
While McKesson currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
