Beverly Hills Private Wealth LLC Invests $1.42 Million in McKesson Corporation $MCK

Key Points

• Beverly Hills Private Wealth LLC purchased 1,877 McKesson shares worth approximately $1.42 million during the second quarter. Institutional investors collectively own 85.07% of the company.
• Analysts maintain a largely positive outlook, with 14 Buy ratings and three Holds, resulting in a “Moderate Buy” consensus and an average price target of $977.00.
• McKesson exceeded quarterly estimates, reporting $9.93 in EPS and $105.38 billion in revenue, while revenue rose 7.7% year over year. The company also raised its quarterly dividend to $0.94 per share from $0.82.

Beverly Hills Private Wealth LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,877 shares of the company's stock, valued at approximately $1,418,000.

Several other hedge funds also recently modified their holdings of the stock. OneDigital Investment Advisors LLC bought a new stake in McKesson in the second quarter valued at $1,606,000. Firetrail Investments PTY Ltd. purchased a new stake in shares of McKesson in the second quarter worth approximately $11,949,000. Plato Investment Management Ltd bought a new position in McKesson during the 2nd quarter valued at $2,748,000. Bell Investment Advisors Inc bought a new position in shares of McKesson during the second quarter valued at about $39,000. Finally, AMG National Trust Bank bought a new position in shares of McKesson during the 2nd quarter worth approximately $2,665,000. Institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $875.00 price target on shares of McKesson in a report on Friday, May 8th. JPMorgan Chase & Co. reduced their target price 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. William Blair assumed coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Citigroup upped their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Barclays lowered their price target on McKesson from $1,050.00 to $925.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $977.00.

Insider Transactions at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,463 shares of the firm's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company's stock, valued at $4,697,081.64. This represents a 58.84% decrease in their position. 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. In the last three months, insiders have sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is owned by insiders.

McKesson Stock Down 0.0%

Shares of MCK opened at $868.72 on Monday. The stock has a market capitalization 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 has a fifty day simple moving average of $813.45 and a two-hundred day simple moving average of $842.94.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (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 company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the previous year, the business earned $8.26 EPS. McKesson's 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. Sell-side analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is an increase from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson's dividend payout ratio is presently 8.78%.

McKesson Profile

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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