Maridea Wealth Management LLC Acquires Shares of 1,260 McKesson Corporation $MCK

Key Points

• Maridea Wealth Management acquired 1,260 McKesson shares worth approximately $952,000 in the second quarter. Institutional investors 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 generally positive outlook, with a consensus “Moderate Buy” rating and a $977 price target. McKesson also raised its quarterly dividend to $0.94 per share.

Maridea Wealth Management LLC bought a new position in McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,260 shares of the company's stock, valued at approximately $952,000.

Several other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson in the fourth quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in shares of McKesson in the fourth quarter worth $26,000. State of Wyoming purchased a new position in shares of McKesson during the second quarter valued at $29,000. Kingdom Financial Group LLC. purchased a new position in shares of McKesson during the fourth quarter valued at $33,000. Finally, Birchwood Financial Partners Inc. acquired a new position in McKesson during the fourth quarter valued at $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Bradley E. Lerman sold 301 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction on 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 directly owned 5,919 shares of the company's stock, valued at approximately $4,697,081.64. The trade was 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. Over the last three months, insiders sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Morgan Stanley reaffirmed an "overweight" rating on shares of McKesson in a research note on Friday, August 7th. William Blair initiated coverage on McKesson in a report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a research report on Thursday, August 6th. Finally, TD Cowen raised their price target 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. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $977.00.

McKesson Price Performance

MCK opened at $868.72 on Friday. McKesson Corporation has a fifty-two week low of $667.50 and a fifty-two week high of $999.00. The business has a 50-day moving average of $813.45 and a 200-day moving average of $842.81. The company has a market capitalization of $101.28 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (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 business had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same period in the previous year, the company earned $8.26 EPS. The firm'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. On average, equities research analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson's dividend payout ratio is presently 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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