Bank of New York Mellon Corp bought a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 792,827 shares of the company's stock, valued at approximately $599,060,000. Bank of New York Mellon Corp owned about 0.68% of McKesson at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its stake in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the period. Caxton Associates LLP acquired a new stake in McKesson in the 1st quarter valued at approximately $233,000. Sivia Capital Partners LLC lifted its stake in shares of McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock valued at $502,000 after buying an additional 300 shares during the period. Treasurer of the State of North Carolina boosted its holdings in McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock valued at $42,958,000 after purchasing an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson during the 2nd quarter valued at about $166,000. 85.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on MCK. JPMorgan Chase & Co. reduced their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Weiss Ratings downgraded shares of McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. Citigroup raised their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Morgan Stanley reissued an "overweight" rating on shares of McKesson in a report on Friday, August 7th. Finally, Wall Street Zen downgraded McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $973.44.
Check Out Our Latest Stock Report on MCK
Insider Buying and Selling at McKesson
In other McKesson news, EVP Michele Lau sold 3,550 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 business'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. Insiders have sold a total of 29,049 shares of company stock valued at $22,530,626 over the last three months. 0.06% of the stock is currently owned by corporate insiders.
McKesson Price Performance
Shares of NYSE:MCK opened at $862.27 on Friday. The company's fifty day moving average price is $820.97 and its 200-day moving average price is $843.86. The firm has a market capitalization of $100.53 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.65 and a beta of 0.30. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00.
McKesson (NYSE:MCK - Get Free Report) last announced 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. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same period in the previous year, the business earned $8.26 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities research analysts expect that McKesson Corporation will post 44.65 EPS for the current year.
McKesson Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 is a positive change from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson's payout ratio is currently 8.78%.
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.
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