Corient Private Wealth LP increased its stake in McKesson Corporation (NYSE:MCK - Free Report) by 207.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,073 shares of the company's stock after buying an additional 85,044 shares during the quarter. Corient Private Wealth LP owned approximately 0.11% of McKesson worth $95,263,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Secure Asset Management LLC grew its position in shares of McKesson by 484.8% in the second quarter. Secure Asset Management LLC now owns 2,123 shares of the company's stock valued at $1,604,000 after purchasing an additional 1,760 shares during the last quarter. Summit Global Investments acquired a new stake in McKesson during the 2nd quarter worth approximately $1,159,000. Walter Public Investments Inc. acquired a new stake in McKesson during the 4th quarter worth approximately $6,538,000. One Wealth Advisors LLC bought a new stake in shares of McKesson in the second quarter valued at about $1,494,000. Finally, Royal London Asset Management Ltd. grew its stake in shares of McKesson by 1.1% in the second quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company's stock valued at $84,809,000 after acquiring an additional 1,216 shares in 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 a number of analyst reports. Weiss Ratings upgraded shares of McKesson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, September 4th. TD Cowen lifted their price objective on McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a report on Thursday, August 6th. UBS Group increased their target price on McKesson from $1,050.00 to $1,080.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Citigroup raised 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, July 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of McKesson in a research note on Friday, August 7th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $973.44.
Check Out Our Latest Stock Report on McKesson
McKesson Price Performance
MCK stock opened at $880.51 on Friday. The company has a 50 day simple moving average of $860.19 and a 200 day simple moving average of $841.27. The stock has a market cap of $102.66 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 1.75 and a beta of 0.30. McKesson Corporation has a 1 year low of $687.68 and a 1 year high of $999.00.
McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to analysts' expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company's revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts anticipate that McKesson Corporation will post 44.65 EPS for the current fiscal year.
McKesson Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.94 dividend. This is a boost from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson's dividend payout ratio is 10.06%.
Insider Activity
In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the company's stock in a transaction that occurred 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 directly owned 521 shares in the company, valued at approximately $464,445.45. This represents a 17.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction 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. The trade was 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. Over the last three months, insiders have sold 17,338 shares of company stock valued at $13,643,366. 0.06% of the stock is currently owned by corporate insiders.
McKesson Profile
(
Free Report)
McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.
The company's businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.
See Also
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