GSA Capital Partners LLP Purchases New Holdings in McKesson Corporation $MCK

Key Points

• GSA Capital Partners acquired 1,483 McKesson shares worth approximately $1.12 million in the second quarter. Institutional investors collectively own 85.07% of the company.
• McKesson exceeded quarterly expectations, reporting adjusted earnings of $9.93 per share and revenue of $105.38 billion, up 7.7% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $977.
• McKesson raised its quarterly dividend to $0.94 per share from $0.82, equating to a $3.76 annualized dividend and a 0.4% yield. Meanwhile, company insiders sold 29,049 shares worth $22.5 million over the past three months.

GSA Capital Partners LLP acquired a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,483 shares of the company's stock, valued at approximately $1,121,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MCK. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. purchased a new position in McKesson during the 4th quarter worth $26,000. State of Wyoming acquired a new stake in shares of McKesson in the 2nd quarter worth $29,000. Kingdom Financial Group LLC. acquired a new stake in shares of McKesson in the 4th quarter worth $33,000. Finally, Birchwood Financial Partners Inc. purchased a new stake in shares of McKesson in the fourth quarter valued at about $33,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares of the company's stock, valued at $2,351,768.10. This represents a 43.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction on Tuesday, May 26th. The shares were 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 represents a 52.23% 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 sold a total of 29,049 shares of company stock worth $22,530,626 in the last three months. 0.06% of the stock is currently owned by insiders.

McKesson Trading Down 0.9%

NYSE:MCK opened at $861.59 on Tuesday. McKesson Corporation has a 12-month low of $667.50 and a 12-month high of $999.00. The firm has a market cap of $100.45 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. The company's 50-day moving average is $815.34 and its two-hundred day moving average is $843.12.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly 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 business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid 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 an increase from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio is presently 10.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MCK shares. JPMorgan Chase & Co. cut 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. Evercore restated an "outperform" rating on shares of McKesson in a research report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price objective on McKesson in a research report on Thursday, August 6th. Weiss Ratings lowered McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. Finally, UBS Group upped their target price on McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $977.00.

About McKesson

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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