Sanders Morris Harris LLC Acquires 3,370 Shares of McKesson Corporation $MCK

Key Points

• Sanders Morris Harris LLC acquired 3,370 McKesson shares worth approximately $2.88 million, while institutional investors collectively own 85.07% of the company.
• McKesson shares rose 1.6% to $977.31, near their 52-week high of $999.00. The company recently exceeded quarterly earnings and revenue expectations, with revenue up 7.7% year over year.
• McKesson increased its quarterly dividend from $0.82 to $0.94 per share, equivalent to an annualized $3.76 dividend and a 0.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $983.29.

Sanders Morris Harris LLC bought a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,370 shares of the company's stock, valued at approximately $2,877,000.

Other institutional investors have also modified their holdings of the company. Secure Asset Management LLC lifted its holdings in McKesson by 484.8% in the 2nd quarter. Secure Asset Management LLC now owns 2,123 shares of the company's stock valued at $1,604,000 after purchasing an additional 1,760 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in McKesson by 1.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company's stock worth $84,809,000 after purchasing an additional 1,216 shares during the last quarter. Benchmark Investment Advisors LLC purchased a new stake in shares of McKesson during the second quarter worth $441,000. One Wealth Advisors LLC purchased a new stake in shares of McKesson during the second quarter worth $1,494,000. Finally, Summit Global Investments purchased a new stake in shares of McKesson during the second quarter worth $1,159,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Up 1.6%

McKesson stock traded up $15.43 during trading on Wednesday, reaching $977.31. The stock had a trading volume of 767,923 shares, compared to its average volume of 933,234. McKesson Corporation has a 52-week low of $723.68 and a 52-week high of $999.00. The business has a 50 day moving average price of $890.43 and a 200 day moving average price of $834.56. The stock has a market cap of $113.94 billion, a PE ratio of 26.15, a P/E/G ratio of 2.00 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last issued its 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 net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the previous year, the firm posted $8.26 earnings per share. The company'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. On average, equities analysts predict that McKesson Corporation will post 44.73 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a positive change from McKesson's previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Tuesday, September 1st. McKesson's dividend payout ratio is presently 10.06%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent research reports. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research report on Thursday, August 6th. Leerink Partners raised their target price on McKesson from $1,030.00 to $1,070.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 7th. Mizuho upped their price objective on McKesson from $885.00 to $905.00 in a report on Thursday, August 6th. Argus lifted their target price on shares of McKesson from $850.00 to $970.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Finally, Barclays boosted their price objective on McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $983.29.

Insider Buying and Selling at McKesson

In related news, Director Bradley E. Lerman sold 301 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the company's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. 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. 0.06% of the stock is owned by corporate insiders.

McKesson Profile

McKesson Corporation NYSE: MCK is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson's principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.

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