AMG National Trust Bank Makes New Investment in McKesson Corporation $MCK

Key Points

• AMG National Trust Bank acquired 3,527 McKesson shares in the second quarter, valued at approximately $2.67 million. Institutional investors collectively own 85.07% of the company.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $977; recent targets range from $925 to $1,080.
• McKesson exceeded quarterly earnings and revenue estimates, reporting $9.93 EPS and $105.38 billion in revenue, while increasing its quarterly dividend to $0.94 per share.

AMG National Trust Bank bought a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 3,527 shares of the company's stock, valued at approximately $2,665,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avise Financial Cooperative Inc. acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $464,000. Simplicity Wealth LLC acquired a new position in McKesson during the second quarter valued at approximately $509,000. Uniting Wealth Partners LLC acquired a new position in McKesson during the second quarter valued at approximately $509,000. Trivium Point Advisory LLC bought a new stake in McKesson in the second quarter valued at approximately $217,000. Finally, RW Investment Management LLC bought a new stake in McKesson in the second quarter valued at approximately $351,000. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Barclays lowered their price objective on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a research report on Wednesday, June 10th. Evercore reaffirmed an "outperform" rating on shares of McKesson in a research note on Thursday, August 6th. Citigroup lifted their target price on McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, William Blair started coverage on McKesson in a research note on Tuesday, April 28th. They issued an "outperform" rating for the company. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $977.00.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 699 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the transaction, the executive vice president directly owned 2,268 shares of the company's stock, valued at $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company's stock, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 29,049 shares of company stock valued at $22,530,626. Corporate insiders own 0.06% of the company's stock.

McKesson Stock Performance

Shares of MCK opened at $868.72 on Monday. The firm has a market cap of $101.28 billion, a P/E ratio of 23.25, a PEG ratio of 1.71 and a beta of 0.30. McKesson Corporation has a twelve month low of $667.50 and a twelve month high of $999.00. The firm's 50 day moving average price is $813.45 and its two-hundred day moving average price is $842.94.

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

McKesson Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a positive change from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio (DPR) 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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