McKesson Corporation $MCK Shares Purchased by BayBridge Capital Group LLC

BayBridge Capital Group LLC increased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 268.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,943 shares of the company's stock after purchasing an additional 1,415 shares during the period. BayBridge Capital Group LLC's holdings in McKesson were worth $1,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Secure Asset Management LLC lifted its holdings in McKesson by 484.8% during the 2nd quarter. Secure Asset Management LLC now owns 2,123 shares of the company's stock worth $1,604,000 after buying an additional 1,760 shares in the last quarter. Summit Global Investments acquired a new stake in shares of McKesson in the second quarter valued at $1,159,000. One Wealth Advisors LLC purchased a new position in McKesson in the second quarter valued at $1,494,000. Walter Public Investments Inc. purchased a new stake in McKesson during the 4th quarter worth about $6,538,000. Finally, Royal London Asset Management Ltd. boosted its stake in shares of McKesson by 1.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company's stock valued at $84,809,000 after buying an additional 1,216 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MCK. UBS Group raised their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a research report on Thursday, August 6th. Citigroup lifted their price target on McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a report on Friday, July 24th. TD Cowen increased their price objective on McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their target price on McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $973.44.

Insider Activity

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company's stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 17,227 shares of company stock worth $13,544,415. Insiders own 0.06% of the company's stock.

McKesson Stock Down 2.2%

Shares of MCK stock opened at $887.65 on Wednesday. The stock's 50-day moving average price is $853.90 and its 200 day moving average price is $841.76. The stock has a market capitalization of $103.49 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 1.81 and a beta of 0.30. McKesson Corporation has a 52-week low of $687.68 and a 52-week high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. During the same period last year, the firm earned $8.26 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts expect 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. Stockholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This is a boost from McKesson's previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson's dividend payout ratio (DPR) is 10.06%.

McKesson Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company's businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.

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