Hudson Portfolio Management LLC acquired a new position in McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,391 shares of the company's stock, valued at approximately $4,073,000. McKesson accounts for approximately 3.1% of Hudson Portfolio Management LLC's investment portfolio, making the stock its 6th biggest holding.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of McKesson by 46.3% during the fourth 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 stake in shares of McKesson in the 1st quarter worth approximately $233,000. Sivia Capital Partners LLC increased its position in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock valued at $502,000 after buying an additional 300 shares in the last quarter. Treasurer of the State of North Carolina increased its position in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock valued at $42,958,000 after buying an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson during the 2nd quarter valued at approximately $166,000. Institutional investors own 85.07% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on MCK shares. Wall Street Zen downgraded McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. JPMorgan Chase & Co. reduced their price target on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Royal Bank Of Canada began coverage on McKesson in a research report on Wednesday. They issued a "sector perform" rating and a $845.00 price target for the company. Weiss Ratings cut shares of McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of McKesson in a research note on Friday, August 7th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $973.44.
Check Out Our Latest Research Report on McKesson
Insider Buying and Selling
In other McKesson news, EVP Michele Lau sold 3,550 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders sold 29,049 shares of company stock worth $22,530,626 in the last three months. 0.06% of the stock is currently owned by company insiders.
McKesson Trading Up 2.8%
MCK stock opened at $862.27 on Friday. The stock's 50 day simple moving average is $820.97 and its 200 day simple moving average is $843.86. McKesson Corporation has a 12-month low of $673.38 and a 12-month high of $999.00. The stock has a market capitalization of $100.53 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30.
McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter last year, the company earned $8.26 EPS. The company's quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts predict that McKesson Corporation will post 44.65 earnings per share for the current year.
McKesson Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio is 8.78%.
McKesson Company Profile
(
Free Report)
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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