Counterpoint Mutual Funds LLC Buys 1,788 Shares of McKesson Corporation $MCK

Key Points

• Counterpoint Mutual Funds increased its McKesson stake by 18.9% in the third quarter, purchasing 1,788 additional shares for a total of 11,235 shares valued at approximately $9.6 million. Institutional investors collectively own 85.07% of McKesson.
• McKesson reported quarterly revenue of $105.38 billion and EPS of $9.93, exceeding analyst expectations, while revenue grew 7.7% year over year. The company also raised its quarterly dividend from $0.82 to $0.94 per share.
• Shares opened at $1,005.39, near their 12-month high, and analysts maintain a “Moderate Buy” consensus with an average price target of $990.35; 15 analysts rate the stock Buy and four rate it Hold.

Counterpoint Mutual Funds LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 18.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,235 shares of the company's stock after purchasing an additional 1,788 shares during the quarter. McKesson comprises 0.8% of Counterpoint Mutual Funds LLC's portfolio, making the stock its 24th largest holding. Counterpoint Mutual Funds LLC's holdings in McKesson were worth $9,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in McKesson in the 2nd quarter valued at $8,156,743,000. Bank of America Corp DE lifted its position in McKesson by 2.4% during the 1st quarter. Bank of America Corp DE now owns 1,538,726 shares of the company's stock worth $1,331,552,000 after acquiring an additional 35,916 shares during the last quarter. Swedbank AB boosted its holdings in McKesson by 13.5% during the first quarter. Swedbank AB now owns 1,005,610 shares of the company's stock valued at $870,215,000 after acquiring an additional 119,327 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in McKesson by 3.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company's stock valued at $697,096,000 after purchasing an additional 29,747 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of McKesson in the second quarter worth $656,566,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of NYSE:MCK opened at $1,005.39 on Friday. The business has a fifty day moving average of $897.66 and a 200-day moving average of $837.50. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,014.99. The firm has a market cap of $117.22 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.00 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $103.88 billion. During the same period last year, the firm earned $8.26 EPS. The business's revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts anticipate that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.82. The ex-dividend date was Tuesday, September 1st. McKesson's dividend payout ratio (DPR) is 10.06%.

Insiders Place Their Bets

In other McKesson news, Director Bradley Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO B Jr sold 111 shares of McKesson stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. This trade represents a 17.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCK. Royal Bank Of Canada reissued a "sector perform" rating and set a $845.00 target price on shares of McKesson in a research report on Monday, September 14th. Leerink Partners boosted their price target on shares of McKesson from $1,030.00 to $1,070.00 and gave the company an "outperform" rating in a report on Wednesday, October 7th. Morgan Stanley set a $977.00 price objective on shares of McKesson in a research note on Tuesday, October 6th. Mizuho raised their price objective on shares of McKesson from $885.00 to $905.00 in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of McKesson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, September 4th. Fifteen 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $990.35.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson's principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.

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