Algebris UK Ltd. Purchases Shares of 1,206 McKesson Corporation $MCK

Key Points

• Algebris UK Ltd. acquired 1,206 McKesson shares worth approximately $908,000 during the second quarter. Institutional investors and hedge funds collectively own 85.07% of the company.
• McKesson recently exceeded quarterly earnings and revenue estimates, reporting $9.93 in EPS and $105.38 billion in revenue, while revenue increased 7.7% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $973.44, and McKesson raised its quarterly dividend from $0.82 to $0.94 per share. Meanwhile, insiders have sold $22.5 million of stock over the past 90 days.

Algebris UK Ltd. bought a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,206 shares of the company's stock, valued at approximately $908,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. acquired a new position in McKesson in the fourth quarter valued at $26,000. State of Wyoming bought a new stake in McKesson during the second quarter valued at $29,000. Kingdom Financial Group LLC. bought a new stake in McKesson during the fourth quarter valued at $33,000. Finally, Birchwood Financial Partners Inc. acquired a new stake in McKesson during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Transactions at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction that occurred on 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 of the company's stock, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The transaction was disclosed in a filing 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, CEO Brian S. Tyler sold 8,463 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 29,049 shares of company stock worth $22,530,626. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MCK. JPMorgan Chase & Co. lowered their target price 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. Wells Fargo & Company increased their price target on McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 11th. Barclays raised their price objective on shares of McKesson from $925.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday. UBS Group boosted their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research note on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $973.44.

McKesson Trading Down 1.5%

Shares of NYSE:MCK opened at $841.21 on Friday. The stock has a market cap 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. The stock's fifty day simple moving average is $819.40 and its two-hundred day simple moving average is $843.73. McKesson Corporation has a 1-year low of $673.38 and a 1-year high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last posted its 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. The firm had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, sell-side analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This is a positive change from McKesson's previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio (DPR) is 10.06%.

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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