AlphaGrep UK Ltd acquired a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,219 shares of the company's stock, valued at approximately $1,677,000. McKesson accounts for approximately 0.5% of AlphaGrep UK Ltd's holdings, making the stock its 8th largest position.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in McKesson during the second quarter valued at about $8,156,743,000. State Street Corp raised its stake in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company's stock worth $4,746,118,000 after acquiring an additional 29,660 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company's stock worth $2,333,520,000 after acquiring an additional 25,082 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of McKesson by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company's stock worth $2,318,102,000 after acquiring an additional 144,633 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of McKesson in the 4th quarter valued at $1,651,137,000. 85.07% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
MCK has been the topic of several recent research reports. TD Cowen increased their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Citigroup lifted their price target on McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Robert W. Baird set a $1,015.00 price objective on McKesson in a research report on Thursday, August 6th. Barclays increased their price objective on McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $973.44.
Get Our Latest Report on McKesson
McKesson Stock Performance
Shares of NYSE:MCK opened at $907.35 on Friday. The stock's 50-day simple moving average is $848.13 and its two-hundred day simple moving average is $843.09. The stock has a market capitalization of $105.79 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.83 and a beta of 0.30. McKesson Corporation has a 52-week low of $682.35 and a 52-week 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 EPS for the quarter, beating 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 for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.
McKesson Increases Dividend
The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a positive change from McKesson's previous quarterly dividend of $0.82. McKesson's payout ratio is currently 10.06%.
Insider Activity at McKesson
In other McKesson news, Director Bradley Lerman sold 301 shares of McKesson stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian Tyler sold 8,463 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares of the company's stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. 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. Insiders sold a total of 22,156 shares of company stock valued at $17,305,242 over the last three months. 0.06% of the stock is currently owned by insiders.
About McKesson
(
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.
Further Reading
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