Fulcrum Wealth Advisors LLC Sells 1,267 Shares of McKesson Corporation $MCK

Key Points

• Fulcrum Wealth Advisors cut its McKesson stake by 32.2% in the third quarter, selling 1,267 shares and retaining 2,666 shares valued at approximately $2.28 million.
• McKesson reported quarterly revenue of $105.38 billion and adjusted earnings of $9.93 per share, exceeding analyst expectations; revenue increased 7.7% year over year.
• The company raised its quarterly dividend to $0.94 per share, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus rating and an average price target of $990.35.

Fulcrum Wealth Advisors LLC reduced its stake in McKesson Corporation (NYSE:MCK - Free Report) by 32.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,666 shares of the company's stock after selling 1,267 shares during the period. McKesson comprises 1.5% of Fulcrum Wealth Advisors LLC's investment portfolio, making the stock its 22nd largest position. Fulcrum Wealth Advisors LLC's holdings in McKesson were worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of MCK. BlackRock Inc. purchased a new stake in shares of McKesson during the second quarter valued at approximately $8,156,743,000. Bank of America Corp DE increased its stake in shares of McKesson by 2.4% in the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company's stock worth $1,331,552,000 after buying an additional 35,916 shares during the period. Swedbank AB increased its stake in shares of McKesson by 13.5% in the first quarter. Swedbank AB now owns 1,005,610 shares of the company's stock worth $870,215,000 after buying an additional 119,327 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of McKesson by 3.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company's stock worth $697,096,000 after buying an additional 29,747 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of McKesson in the second quarter worth $656,566,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

MCK opened at $1,005.39 on Friday. McKesson Corporation has a 52-week low of $723.68 and a 52-week high of $1,014.99. The stock has a market capitalization 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. The stock's 50 day moving average price is $897.66 and its 200-day moving average price is $837.50.

McKesson (NYSE:MCK - Get Free Report) last announced 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 company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the prior year, the company earned $8.26 earnings per share. The firm'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. Research analysts forecast that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Increases Dividend

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

Insider Buying and Selling at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The shares were 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 SEC, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the business's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. This represents a 17.56% 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. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MCK. Barclays upped their price target on shares of McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Citigroup raised their price target on shares of McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Mizuho raised their price target on shares of McKesson from $885.00 to $905.00 in a report on Thursday, August 6th. Argus boosted their price objective on shares of McKesson from $850.00 to $970.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Finally, Evercore reaffirmed an "outperform" rating and set a $950.00 price objective (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, McKesson has an average rating of "Moderate Buy" and an average price target of $990.35.

McKesson 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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