Greenup Street Wealth Management LLC Makes New $2.47 Million Investment in McKesson Corporation $MCK

Key Points

• Greenup Street Wealth Management initiated a $2.47 million position in McKesson by purchasing 2,894 shares during the third quarter. Institutional investors collectively own 85.07% of the company.
• Analyst sentiment remains positive, with 15 Buy ratings and four Holds; McKesson has a consensus “Moderate Buy” rating and an average price target of $997.12.
• McKesson reported quarterly EPS of $9.93, exceeding estimates, while revenue rose 7.7% year over year to $105.38 billion. The company also declared a quarterly dividend of $0.94 per share, yielding approximately 0.4% annually.

Greenup Street Wealth Management LLC bought a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,894 shares of the company's stock, valued at approximately $2,471,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. BlackRock Inc. purchased a new position in McKesson in the second quarter valued at $8,156,743,000. Bank of America Corp DE increased its stake in McKesson by 2.4% in the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company's stock valued at $1,331,552,000 after purchasing an additional 35,916 shares during the period. Swedbank AB raised its stake in McKesson by 13.5% during the 1st 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in McKesson by 3.3% in 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 buying an additional 29,747 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of McKesson in the second quarter valued at about $656,566,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group increased their price objective on McKesson from $1,080.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Friday, October 16th. Weiss Ratings upgraded shares of McKesson from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, September 4th. Evercore reiterated an "outperform" rating and issued a $950.00 price objective (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price objective on shares of McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 11th. Finally, Barclays upped their target price on shares of McKesson from $925.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $997.12.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm'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 completion of the transaction, the chief accounting officer directly owned 521 shares in the company, valued at approximately $464,445.45. This trade represents a 17.56% decrease in their position. The transaction 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, EVP Francisco Fraga sold 800 shares of McKesson stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the transaction, the executive vice president owned 5,423 shares of the company's stock, valued at approximately $5,400,223.40. The trade was a 12.86% 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. Insiders have sold 1,212 shares of company stock worth $1,164,182 in the last three months. Corporate insiders own 0.06% of the company's stock.

McKesson Stock Performance

Shares of MCK stock opened at $994.77 on Friday. The stock has a fifty day moving average price of $922.54 and a 200 day moving average price of $862.89. The stock has a market cap of $115.98 billion, a PE ratio of 26.62, a P/E/G ratio of 1.95 and a beta of 0.30. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,030.27.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. McKesson's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities research analysts predict that McKesson Corporation will post 44.71 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be given a $0.94 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson's payout ratio is currently 10.06%.

About McKesson

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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