Oxbow Advisors LLC Acquires New Position in McKesson Corporation $MCK

Key Points

• Oxbow Advisors acquired 8,724 McKesson shares worth approximately $6.6 million during the second quarter. Institutional investors collectively own 85.07% of the company.
• McKesson exceeded quarterly expectations, reporting $9.93 in EPS and $105.38 billion in revenue, with revenue up 7.7% year over year. The company raised its quarterly dividend from $0.82 to $0.94, representing a 0.4% yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $977, while recent insider transactions primarily involved executives selling shares under pre-arranged plans.

Oxbow Advisors LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,724 shares of the company's stock, valued at approximately $6,592,000.

A number of other institutional investors also recently bought and sold shares of MCK. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson in the 4th quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in shares of McKesson during the 4th quarter valued at approximately $26,000. State of Wyoming acquired a new position in McKesson in the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. acquired a new position in McKesson in the fourth quarter valued at approximately $33,000. Finally, Birchwood Financial Partners Inc. purchased a new position in McKesson in the fourth quarter worth approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

McKesson stock opened at $869.73 on Wednesday. McKesson Corporation has a fifty-two week low of $667.50 and a fifty-two week high of $999.00. The firm has a 50 day moving average price of $817.06 and a 200 day moving average price of $843.43. The company has a market capitalization of $101.40 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS 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 for the quarter, compared to analysts' expectations of $103.88 billion. During the same period in the prior year, the firm earned $8.26 earnings per share. The firm's revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MCK. UBS Group raised their target price on McKesson from $1,050.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Evercore reaffirmed an "outperform" rating on shares of McKesson in a research note on Thursday, August 6th. Wall Street Zen cut McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. JPMorgan Chase & Co. cut their price objective on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Finally, William Blair initiated coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $977.00.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 5,919 shares of the company's stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the business's stock in a transaction dated 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 owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 29,049 shares of company stock worth $22,530,626 in the last quarter. Insiders own 0.06% of the company's stock.

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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