B. Riley Wealth Advisors Inc. Buys 1,686 Shares of McKesson Corporation $MCK

Key Points

• B. Riley Wealth Advisors increased its McKesson stake by 174.7% in the third quarter, acquiring 1,686 additional shares for a total holding valued at approximately $2.26 million. Institutional investors collectively own 85.07% of the stock.
• Analysts remain broadly optimistic, with 15 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $983.29. Several firms recently raised their targets, including Leerink Partners to $1,070.
• McKesson reported quarterly EPS of $9.93, beating estimates, while revenue rose 7.7% year over year to $105.38 billion. The company also increased its quarterly dividend to $0.94 per share, implying a 0.4% yield.

B. Riley Wealth Advisors Inc. raised its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 174.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,651 shares of the company's stock after acquiring an additional 1,686 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in McKesson were worth $2,263,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Krilogy Financial LLC grew its holdings in shares of McKesson by 22.5% during the third quarter. Krilogy Financial LLC now owns 1,122 shares of the company's stock worth $958,000 after purchasing an additional 206 shares during the last quarter. RHS Financial LLC increased its position in McKesson by 20.4% in the 3rd quarter. RHS Financial LLC now owns 343 shares of the company's stock valued at $293,000 after acquiring an additional 58 shares in the last quarter. Mechanics Bank Trust Department increased its position in McKesson by 2.7% in the 3rd quarter. Mechanics Bank Trust Department now owns 5,178 shares of the company's stock valued at $4,421,000 after acquiring an additional 135 shares in the last quarter. Forvis Mazars Wealth Advisors LLC increased its position in McKesson by 2.0% in the 3rd quarter. Forvis Mazars Wealth Advisors LLC now owns 7,738 shares of the company's stock valued at $6,607,000 after acquiring an additional 155 shares in the last quarter. Finally, Sivik Global Healthcare LLC raised its stake in shares of McKesson by 62.5% in the third quarter. Sivik Global Healthcare LLC now owns 6,500 shares of the company's stock worth $5,550,000 after acquiring an additional 2,500 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Barclays boosted 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, August 19th. Citigroup upped their price objective on McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Leerink Partners increased their price objective on McKesson from $1,030.00 to $1,070.00 and gave the company an "outperform" rating in a research report on Wednesday, October 7th. Finally, Mizuho increased their price objective on McKesson from $885.00 to $905.00 in a research report on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $983.29.

McKesson Stock Performance

MCK opened at $977.31 on Thursday. The company has a fifty day moving average price of $892.49 and a two-hundred day moving average price of $835.35. The firm has a market capitalization of $113.94 billion, a PE ratio of 23.56, a P/E/G ratio of 2.02 and a beta of 0.30. McKesson Corporation has a 52 week low of $723.68 and a 52 week high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating 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 business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the prior year, the company posted $8.26 earnings per share. The firm'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. Equities analysts forecast that McKesson Corporation will post 44.73 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. McKesson's payout ratio is 10.06%.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares of the company's stock, valued at $464,445.45. The trade was a 17.56% decrease in their position. The sale 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, Director Bradley E. Lerman sold 301 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is owned by company insiders.

About McKesson

McKesson Corporation NYSE: MCK is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson's principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.

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