Alamar Capital Management LLC Takes $1.40 Million Position in McKesson Corporation $MCK

Key Points

• Alamar Capital Management initiated a $1.40 million position in McKesson during the second quarter by purchasing 1,844 shares. Institutional investors collectively own 85.07% of the company.
• Analysts maintain a favorable outlook, with 14 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $977.
• McKesson exceeded quarterly earnings and revenue estimates, reporting $9.93 in EPS and $105.38 billion in revenue, while raising its quarterly dividend from $0.82 to $0.94 per share.

Alamar Capital Management LLC bought a new position in McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,844 shares of the company's stock, valued at approximately $1,395,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company's stock valued at $9,929,380,000 after purchasing an additional 73,109 shares during the last quarter. BlackRock Inc. bought a new position in shares of McKesson in the second quarter valued at approximately $8,156,743,000. State Street Corp lifted its stake in shares of McKesson by 0.5% in the fourth quarter. State Street Corp now owns 5,780,179 shares of the company's stock worth $4,746,118,000 after buying an additional 29,660 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company's stock worth $2,333,520,000 after buying an additional 25,082 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of McKesson by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company's stock worth $2,318,102,000 after buying an additional 144,633 shares during the period. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a research note on Friday, July 24th. JPMorgan Chase & Co. cut their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. TD Cowen raised their price target on McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an "outperform" rating on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $977.00.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the firm's stock in a transaction that occurred 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 owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing 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 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 SEC filing for this sale provides additional information. Insiders sold 29,049 shares of company stock valued at $22,530,626 over the last quarter. Company insiders own 0.06% of the company's stock.

McKesson Price Performance

NYSE:MCK opened at $869.73 on Wednesday. The stock has a market cap of $101.40 billion, a P/E ratio of 23.27, a PEG ratio of 1.71 and a beta of 0.30. McKesson Corporation has a one year low of $667.50 and a one year high of $999.00. The company has a fifty day moving average price of $817.06 and a 200 day moving average price of $843.43.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating 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 firm had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the prior year, the firm earned $8.26 EPS. 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. As a group, equities research analysts anticipate that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This is a boost from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson's dividend payout ratio is 8.78%.

About McKesson

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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