Centaurus Financial Inc. Makes New Investment in McKesson Corporation $MCK

Key Points

• Centaurus Financial acquired 4,557 McKesson shares during the second quarter, valued at approximately $3.44 million. Institutional investors and hedge funds collectively own 85.07% of the company.
• Analyst sentiment remains positive, with 14 “Buy” ratings and four “Hold” ratings. McKesson has a consensus rating of “Moderate Buy” and an average price target of $973.44.
• McKesson reported quarterly earnings of $9.93 per share, surpassing 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 from $0.82.

Centaurus Financial Inc. acquired a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,557 shares of the company's stock, valued at approximately $3,443,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of McKesson by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock valued at $1,855,000 after purchasing an additional 11 shares during the last quarter. Investment Research Partners LLC lifted its position in shares of McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock worth $1,332,000 after purchasing an additional 11 shares during the last quarter. IHT Wealth Management LLC boosted its stake in McKesson by 0.9% during the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company's stock valued at $981,000 after purchasing an additional 11 shares during the period. LRI Investments LLC boosted its stake in McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after purchasing an additional 12 shares during the period. Finally, Macroview Investment Management LLC grew its holdings in McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after buying an additional 12 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Barclays lifted their price target on McKesson from $925.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Royal Bank Of Canada initiated coverage on shares of McKesson in a research report on Wednesday, August 19th. They set a "sector perform" rating and a $845.00 target price on the stock. Morgan Stanley reiterated an "overweight" rating on shares of McKesson in a research note on Friday, August 7th. Evercore reissued an "outperform" rating on shares of McKesson in a report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price objective on shares of McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and a consensus target price of $973.44.

McKesson Trading Down 0.7%

MCK opened at $890.20 on Friday. The stock has a market cap of $103.79 billion, a PE ratio of 23.82, a P/E/G ratio of 1.76 and a beta of 0.30. McKesson Corporation has a 1 year low of $677.28 and a 1 year high of $999.00. The stock's 50 day simple moving average is $830.40 and its 200-day simple moving average is $843.76.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results 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 analyst estimates of $103.88 billion. During the same period in the prior year, the company posted $8.26 earnings per share. McKesson'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 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. 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. McKesson's payout ratio is 8.78%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated 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 sale, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% 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. Insiders have sold a total of 23,111 shares of company stock valued at $18,011,274 in the last 90 days. Insiders own 0.06% of the company's stock.

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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