NewEdge Advisors LLC Has $13.37 Million Position in McKesson Corporation $MCK

Key Points

• NewEdge Advisors increased its McKesson stake by 20.3% in the second quarter, holding 17,696 shares valued at approximately $13.37 million. Institutional investors collectively own 85.07% of the company.
• McKesson reported quarterly EPS of $9.93, exceeding estimates of $9.56, while revenue rose 7.7% year over year to $105.38 billion. The company set fiscal 2027 EPS guidance at $44.20–$45.00.
• 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. Analysts maintain a “Moderate Buy” consensus with an average price target of $973.44.

NewEdge Advisors LLC lifted its stake in McKesson Corporation (NYSE:MCK - Free Report) by 20.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,696 shares of the company's stock after acquiring an additional 2,991 shares during the quarter. NewEdge Advisors LLC's holdings in McKesson were worth $13,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of McKesson by 73,780.3% during the 2nd quarter. California State Teachers Retirement System now owns 141,246,575 shares of the company's stock worth $106,725,912,000 after purchasing an additional 141,055,392 shares in the last quarter. BlackRock Inc. acquired a new position in McKesson in the second quarter worth approximately $8,156,743,000. State Street Corp increased its holdings in McKesson by 0.5% in the fourth quarter. State Street Corp now owns 5,780,179 shares of the company's stock worth $4,746,118,000 after buying an additional 29,660 shares during the last quarter. Geode Capital Management LLC raised its position in McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company's stock valued at $2,333,520,000 after acquiring an additional 25,082 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company's stock valued at $2,318,102,000 after acquiring an additional 144,633 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other McKesson 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 value of $268,591.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,463 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,338 shares of company stock valued at $13,643,366 in the last 90 days. 0.06% of the stock is currently owned by insiders.

McKesson Trading Down 0.0%

NYSE:MCK opened at $880.51 on Friday. The firm has a market capitalization of $102.66 billion, a PE ratio of 23.56, a PEG ratio of 1.75 and a beta of 0.30. McKesson Corporation has a 1 year low of $687.68 and a 1 year high of $999.00. The firm's fifty day simple moving average is $860.19 and its 200 day simple moving average is $841.27.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results 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 company had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts anticipate that McKesson Corporation will post 44.65 EPS 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 issued a $0.94 dividend. This is an increase from McKesson's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson's payout ratio is 10.06%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank Of Canada began coverage on shares of McKesson in a research report on Wednesday, August 19th. They issued a "sector perform" rating and a $845.00 target price for the company. Morgan Stanley reaffirmed an "overweight" rating on shares of McKesson in a research note on Friday, August 7th. UBS Group upped their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. TD Cowen increased their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company raised their target price on McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a report on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $973.44.

McKesson Company 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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