Global Retirement Partners LLC Buys New Stake in McKesson Corporation $MCK

Global Retirement Partners LLC purchased a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,012 shares of the company's stock, valued at approximately $3,032,000.

Other large investors have also recently added to or reduced their stakes in the company. Horizon Investments LLC grew its stake in shares of McKesson by 125.4% in the fourth quarter. Horizon Investments LLC now owns 8,679 shares of the company's stock valued at $7,119,000 after buying an additional 4,828 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings 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 buying an additional 1,219 shares during the period. Walter Public Investments Inc. acquired a new position in McKesson during the 4th quarter worth approximately $6,538,000. Artemis Investment Management LLP lifted its position in McKesson by 149.9% during the 4th quarter. Artemis Investment Management LLP now owns 11,671 shares of the company's stock worth $9,574,000 after acquiring an additional 7,000 shares in the last quarter. Finally, North Dakota State Investment Board purchased a new position in McKesson in the 4th quarter worth approximately $3,969,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Bradley E. Lerman sold 301 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. This trade represents 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. Insiders sold a total of 29,049 shares of company stock worth $22,530,626 over the last ninety days. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Morgan Stanley reaffirmed an "overweight" rating on shares of McKesson in a research note on Friday, August 7th. Finally, William Blair initiated coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $977.00.

McKesson Stock Down 0.0%

MCK stock opened at $868.72 on Monday. The stock's 50 day moving average is $813.45 and its two-hundred day moving average is $842.94. McKesson Corporation has a 52-week low of $667.50 and a 52-week high of $999.00. The company has a market capitalization of $101.28 billion, a PE ratio of 23.25, a P/E/G ratio of 1.71 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 in the prior year, the business posted $8.26 EPS. The business's revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts anticipate that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued 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 of this dividend is Tuesday, September 1st. McKesson's dividend payout ratio is currently 8.78%.

McKesson Company Profile

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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