AXQ Capital LP boosted its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 1,383.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,085 shares of the company's stock after purchasing an additional 7,540 shares during the period. McKesson accounts for about 0.7% of AXQ Capital LP's investment portfolio, making the stock its 7th biggest holding. AXQ Capital LP's holdings in McKesson were worth $6,109,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of MCK. Continuum Advisory LLC lifted its stake in McKesson by 2,101.2% in the second quarter. Continuum Advisory LLC now owns 10,918 shares of the company's stock valued at $8,250,000 after acquiring an additional 10,422 shares during the last quarter. Nykredit A S acquired a new stake in shares of McKesson in the second quarter valued at approximately $43,294,000. InTrack Investment Management Inc lifted its position in shares of McKesson by 3.4% in the second quarter. InTrack Investment Management Inc now owns 3,662 shares of the company's stock valued at $2,767,000 after buying an additional 120 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of McKesson by 29.9% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 20,288 shares of the company's stock worth $15,329,000 after acquiring an additional 4,671 shares during the period. Finally, Secure Asset Management LLC raised its stake in McKesson by 484.8% in the 2nd quarter. Secure Asset Management LLC now owns 2,123 shares of the company's stock valued at $1,604,000 after acquiring an additional 1,760 shares during the period. 85.07% of the stock is currently owned by institutional investors.
Insider Buying and Selling at McKesson
In other news, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,463 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 22,156 shares of company stock worth $17,305,242. Corporate insiders own 0.06% of the company's stock.
McKesson Price Performance
Shares of NYSE:MCK opened at $921.70 on Friday. The company has a market capitalization of $107.46 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.84 and a beta of 0.30. McKesson Corporation has a 1 year low of $682.35 and a 1 year high of $999.00. The business's 50 day simple moving average is $845.27 and its 200 day simple moving average is $842.63.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter last year, the company earned $8.26 EPS. The company'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. On average, sell-side analysts anticipate that McKesson Corporation will post 44.65 EPS for the current fiscal year.
McKesson Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio (DPR) is 10.06%.
Analysts Set New Price Targets
A number of research firms have commented on MCK. TD Cowen lifted their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen lowered shares of McKesson from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Wells Fargo & Company raised their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. Barclays lifted their target price on shares of McKesson from $925.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. dropped their price target 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. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $973.44.
View Our Latest Analysis on McKesson
McKesson Profile
(
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.
See Also
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