Haverford Trust Co Takes $82.96 Million Position in McKesson Corporation $MCK

Key Points

• Haverford Trust acquired 109,798 McKesson shares worth approximately $82.96 million, representing 0.09% of the company; institutional investors collectively own 85.07% of the stock.
• McKesson exceeded quarterly expectations with adjusted EPS of $9.93 versus $9.56 expected and revenue of $105.38 billion, up 7.7% year over year. The company issued fiscal 2027 EPS guidance of $44.20–$45.00.
• McKesson raised its quarterly dividend from $0.82 to $0.94 per share, while analysts maintained a “Moderate Buy” consensus and an average price target of $973.44.

Haverford Trust Co acquired a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 109,798 shares of the company's stock, valued at approximately $82,964,000. Haverford Trust Co owned 0.09% of McKesson at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in McKesson by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock valued at $1,855,000 after purchasing an additional 11 shares in the last quarter. Investment Research Partners LLC boosted its position in shares of McKesson by 0.7% in the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock worth $1,332,000 after purchasing an additional 11 shares during the period. IHT Wealth Management LLC increased its stake in shares of McKesson by 0.9% in the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company's stock worth $981,000 after purchasing an additional 11 shares in the last quarter. LRI Investments LLC raised its position in shares of McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after purchasing an additional 12 shares during the period. Finally, Macroview Investment Management LLC raised its position in shares of McKesson by 3.9% during the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after purchasing an additional 12 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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, Director Bradley E. Lerman sold 301 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,049 shares of company stock worth $22,530,626 over the last three months. 0.06% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of NYSE MCK opened at $862.27 on Friday. The company has a market cap of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30. McKesson Corporation has a 52-week low of $673.38 and a 52-week high of $999.00. The firm's fifty day moving average is $820.97 and its two-hundred day moving average is $843.86.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate 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 business's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts forecast that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson's dividend payout ratio is currently 8.78%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. UBS Group boosted their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. William Blair started coverage on McKesson in a research note on Tuesday, April 28th. They issued an "outperform" rating for the company. Royal Bank Of Canada started coverage on McKesson in a research note on Wednesday. They set a "sector perform" rating and a $845.00 target price on the stock. Finally, Wall Street Zen cut McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and a consensus price target of $973.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source