5,498 Shares in McKesson Corporation $MCK Bought by Allworth Financial LP

Key Points

• Allworth Financial LP acquired 5,498 McKesson shares valued at approximately $4.15 million, while institutional investors and hedge funds collectively own 85.07% of the company.
• McKesson exceeded quarterly expectations, reporting $9.93 in EPS and $105.38 billion in revenue; sales rose 7.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $973.44.
• McKesson raised its quarterly dividend from $0.82 to $0.94 per share, equivalent to an annualized $3.76 dividend and a 0.4% yield.

Allworth Financial LP bought a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,498 shares of the company's stock, valued at approximately $4,154,000.

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

McKesson Trading Down 1.5%

Shares of MCK stock opened at $841.21 on Friday. The firm has a fifty day simple moving average of $819.40 and a 200-day simple moving average of $843.73. The company has a market capitalization of $98.08 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.68 and a beta of 0.30. McKesson Corporation has a twelve month low of $673.38 and a twelve month high of $999.00.

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

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson's dividend payout ratio is presently 10.06%.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent research reports. William Blair started coverage on shares of McKesson in a research report on Tuesday, April 28th. They issued an "outperform" rating for the company. TD Cowen increased their price target on McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a report on Thursday, August 6th. UBS Group raised their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Barclays boosted their price objective on McKesson from $925.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Evercore reaffirmed an "outperform" rating on shares of McKesson in a research report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus price target of $973.44.

Insiders Place Their Bets

In other McKesson news, EVP Michele Lau sold 3,550 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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 value of $268,591.33. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 29,049 shares of company stock valued at $22,530,626. Insiders own 0.06% of the company's stock.

McKesson 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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