Cetera Investment Advisers Raises Stake in McKesson Corporation $MCK

Cetera Investment Advisers lifted its stake in McKesson Corporation (NYSE:MCK - Free Report) by 15.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,415 shares of the company's stock after purchasing an additional 9,005 shares during the period. Cetera Investment Advisers owned about 0.06% of McKesson worth $59,203,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MCK. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new position in McKesson during the 4th quarter worth $26,000. State of Wyoming purchased a new position in McKesson during the 2nd quarter worth $29,000. Kingdom Financial Group LLC. bought a new stake in McKesson during the 4th quarter valued at $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in McKesson during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MCK shares. Citigroup increased their price target on McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Friday. Bank of America lowered their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Wells Fargo & Company dropped their target price on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 12th. JPMorgan Chase & Co. cut their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Finally, Weiss Ratings cut shares of McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 7th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average price target of $962.67.

McKesson Price Performance

MCK opened at $840.76 on Friday. The firm has a market capitalization of $98.43 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.36 and a beta of 0.31. The business's 50-day moving average is $780.04 and its two-hundred day moving average is $838.46. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the firm posted $10.12 earnings per share. The company's quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 44.28 EPS for the current 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 given a $0.94 dividend. 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 9.77%.

Key Headlines Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson boosted its quarterly dividend to $0.94 per share from $0.82, signaling management confidence in cash flow and returning more capital to shareholders. McKesson Raises Quarterly Dividend by 15%
• Positive Sentiment: Shareholders backed the board, auditors, and executive compensation at the annual meeting, reducing governance uncertainty. McKesson Shareholders Back Board, Auditors, and Executive Pay
• Neutral Sentiment: Recent commentary from analysts has been mixed, with one piece noting conflicting views on McKesson and other healthcare names, which may keep sentiment balanced in the near term. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Neutral Sentiment: TD Cowen reportedly lowered expectations for McKesson’s stock price, adding a cautionary note despite the company’s strong operational backdrop. TD Cowen Has Lowered Expectations for McKesson NYSE: MCK Stock Price

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,463 shares of the company's 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 transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. This represents 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 28,748 shares of company stock valued at $22,262,035 in the last 90 days. Corporate 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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