Kendall Capital Management Buys Shares of 3,540 McKesson Corporation $MCK

Key Points

• Kendall Capital Management initiated a McKesson position by purchasing 3,540 shares worth approximately $2.675 million. Institutional investors collectively own 85.07% of the company.
• McKesson reported quarterly EPS of $9.93, beating estimates of $9.56, while revenue rose 7.7% year over year to $105.38 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $973.44.
• The company raised its quarterly dividend from $0.82 to $0.94 per share, equivalent to a $3.76 annualized payout and a 0.4% yield; insiders sold $22.5 million of stock during the latest quarter.

Kendall Capital Management purchased a new position in McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,540 shares of the company's stock, valued at approximately $2,675,000.

A number of other institutional investors have also recently made changes to their positions in MCK. Brighton Jones LLC lifted its holdings in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock worth $1,438,000 after acquiring an additional 798 shares during the last quarter. Caxton Associates LLP bought a new position in McKesson in the first quarter valued at $233,000. Sivia Capital Partners LLC increased its stake in McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock valued at $502,000 after acquiring an additional 300 shares during the last quarter. Treasurer of the State of North Carolina raised its position in McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock valued at $42,958,000 after purchasing an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in McKesson during the second quarter valued at about $166,000. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MCK shares. Royal Bank Of Canada began coverage on McKesson in a research note on Wednesday. They set a "sector perform" rating and a $845.00 price target for the company. TD Cowen increased their price objective on McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. UBS Group boosted their target price on McKesson from $1,050.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Evercore reaffirmed an "outperform" rating on shares of McKesson in a research note on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $973.44.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares of the company's stock, valued at approximately $482,848. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the sale, the executive vice president directly owned 3,090 shares of the company's stock, valued at approximately $2,351,768.10. This trade represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 29,049 shares of company stock worth $22,530,626 over the last quarter. Company insiders own 0.06% of the company's stock.

McKesson Stock Up 2.8%

McKesson stock opened at $862.27 on Friday. The firm has a fifty day simple moving average of $820.97 and a two-hundred day simple moving average of $843.86. McKesson Corporation has a twelve month low of $673.38 and a twelve month high of $999.00. The company has a market capitalization of $100.53 billion, a PE ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to analysts' expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

McKesson 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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