Flputnam Investment Management Co. acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,864 shares of the company's stock, valued at approximately $35,411,000.
Other hedge funds have also bought and sold shares of the company. Horizon Investments LLC raised its position in shares of McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company's stock worth $7,119,000 after acquiring an additional 4,828 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of McKesson by 62.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company's stock valued at $2,590,000 after purchasing an additional 1,219 shares in the last quarter. Walter Public Investments Inc. bought a new stake in shares of McKesson during the 4th quarter valued at about $6,538,000. Artemis Investment Management LLP grew its stake in McKesson by 149.9% during the fourth quarter. Artemis Investment Management LLP now owns 11,671 shares of the company's stock worth $9,574,000 after purchasing an additional 7,000 shares during the period. Finally, North Dakota State Investment Board bought a new stake in shares of McKesson in the 4th quarter valued at $3,969,000. Institutional investors own 85.07% of the company's stock.
McKesson Trading Down 0.0%
Shares of MCK stock opened at $868.72 on Monday. The firm has a fifty day simple moving average of $813.45 and a two-hundred day simple moving average of $842.94. McKesson Corporation has a 12 month low of $667.50 and a 12 month high of $999.00. The firm has a market capitalization of $101.28 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.
McKesson Increases Dividend
The firm 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 $0.94 dividend. This represents a $3.76 annualized dividend and a 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%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a report on Thursday, August 6th. Barclays cut their price objective on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 10th. 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 research note on Friday, May 8th. TD Cowen boosted their target price on McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of McKesson in a report on Friday, August 7th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $977.00.
Read Our Latest Research Report on McKesson
Insider Buying and Selling at McKesson
In other McKesson news, Director Bradley E. Lerman sold 301 shares of the business'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 transaction of $268,591.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the sale, the executive vice president directly owned 3,247 shares of the company's stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 currently owned by corporate insiders.
About McKesson
(
Free Report)
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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