Simplicity Wealth LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,800 shares of the company's stock, valued at approximately $509,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in McKesson by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock valued at $1,855,000 after purchasing an additional 11 shares during the last quarter. Investment Research Partners LLC boosted its position in McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock worth $1,332,000 after purchasing an additional 11 shares during the period. IHT Wealth Management LLC increased its stake in shares of McKesson by 0.9% in the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company's stock worth $981,000 after purchasing an additional 11 shares in the last quarter. LRI Investments LLC raised its position in shares of McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after purchasing an additional 12 shares during the period. Finally, Macroview Investment Management LLC raised its position in shares of McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after purchasing an additional 12 shares during the period. Institutional investors own 85.07% of the company's stock.
Insider Transactions at McKesson
In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company's stock, valued at approximately $482,848. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents 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. In the last quarter, insiders have sold 29,049 shares of company stock valued at $22,530,626. Corporate insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
MCK has been the subject of several analyst reports. Morgan Stanley reaffirmed an "overweight" rating on shares of McKesson in a report on Friday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Robert W. Baird set a $1,015.00 target price on McKesson in a research report on Thursday, August 6th. William Blair began coverage on McKesson in a report on Tuesday, April 28th. They issued an "outperform" rating for the company. Finally, Wells Fargo & Company lifted their price target on McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $977.00.
Check Out Our Latest Analysis on MCK
McKesson Trading Down 0.9%
MCK stock opened at $861.59 on Tuesday. The firm has a 50 day moving average of $815.34 and a 200-day moving average of $843.12. McKesson Corporation has a 12 month low of $667.50 and a 12 month high of $999.00. The firm has a market capitalization of $100.45 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30.
McKesson (NYSE:MCK - Get Free Report) last posted its earnings results 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. The business had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts predict that McKesson Corporation will post 44.65 EPS for the current year.
McKesson Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is an increase from McKesson's previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson's dividend payout ratio (DPR) is presently 10.06%.
McKesson Company Profile
(
Free Report)
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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