Tidal Investments LLC Has $60.71 Million Position in McKesson Corporation $MCK

Key Points

• Tidal Investments reduced its McKesson position by 7.5% in the second quarter, retaining 80,344 shares valued at approximately $60.7 million. Institutional investors collectively own 85.07% of the company.
• McKesson reported quarterly adjusted EPS of $9.93, exceeding estimates of $9.56, while revenue rose 7.7% year over year to $105.38 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $973.44 price target. McKesson also increased its quarterly dividend from $0.82 to $0.94 per share.

Tidal Investments LLC lessened its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,344 shares of the company's stock after selling 6,531 shares during the period. Tidal Investments LLC owned approximately 0.07% of McKesson worth $60,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MCK. Van Hulzen Asset Management LLC raised its position in McKesson by 8.3% during the second quarter. Van Hulzen Asset Management LLC now owns 4,803 shares of the company's stock valued at $3,629,000 after purchasing an additional 369 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of McKesson by 19.7% during the 2nd quarter. MCF Advisors LLC now owns 1,258 shares of the company's stock worth $951,000 after buying an additional 207 shares in the last quarter. Scholtz & Company LLC acquired a new position in shares of McKesson during the 2nd quarter worth $4,891,000. National Pension Service lifted its position in shares of McKesson by 2.7% during the 2nd quarter. National Pension Service now owns 407,092 shares of the company's stock worth $307,599,000 after buying an additional 10,878 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of McKesson during the 2nd quarter worth $423,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Transactions at McKesson

In other McKesson news, Director Bradley Lerman sold 301 shares of the company's stock in a transaction dated Monday, August 10th. The stock was 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 is available at the SEC website. Also, CEO Brian Tyler sold 8,463 shares of McKesson 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 completion of the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% 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. Insiders sold a total of 17,227 shares of company stock worth $13,544,415 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

MCK has been the topic of a number of recent analyst reports. Royal Bank Of Canada began coverage on McKesson in a research report on Wednesday, August 19th. They issued a "sector perform" rating and a $845.00 target price on the stock. Barclays raised their price target on shares of McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Wall Street Zen cut shares of McKesson from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded McKesson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, September 4th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $973.44.

McKesson Price Performance

MCK opened at $894.38 on Thursday. McKesson Corporation has a fifty-two week low of $687.68 and a fifty-two week high of $999.00. The firm has a market capitalization of $104.28 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.77 and a beta of 0.30. The company's 50 day moving average price is $856.40 and its two-hundred day moving average price is $841.46.

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 the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities research analysts predict that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The business 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio (DPR) is presently 10.06%.

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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