Wealthfront Advisers LLC Purchases Shares of 26,734 McKesson Corporation $MCK

Key Points

• Wealthfront Advisers acquired 26,734 McKesson shares worth approximately $20.2 million, while institutional investors collectively own 85.07% of the stock.
• McKesson exceeded quarterly expectations, reporting $9.93 in EPS and $105.38 billion in revenue; revenue rose 7.7% year over year, and fiscal 2027 EPS guidance is $44.20–$45.00.
• The company raised its quarterly dividend to $0.94 per share, a 14.6% increase from $0.82, while analysts maintain a “Moderate Buy” consensus with an average price target of $977.

Wealthfront Advisers LLC acquired a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,734 shares of the company's stock, valued at approximately $20,200,000.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company's stock valued at $9,929,380,000 after buying an additional 73,109 shares during the last quarter. BlackRock Inc. purchased a new position in McKesson during the 2nd quarter worth approximately $8,156,743,000. State Street Corp raised its position in McKesson by 0.5% during the 4th 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 lifted its stake in McKesson by 0.9% during the 4th 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 during the period. Finally, Franklin Resources Inc. lifted its stake in McKesson by 5.4% during the 4th 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 during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 McKesson stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This represents 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. Over the last ninety days, insiders have sold 29,049 shares of company stock worth $22,530,626. Insiders own 0.06% of the company's stock.

McKesson Stock Up 1.1%

Shares of McKesson stock opened at $869.73 on Wednesday. McKesson Corporation has a twelve month low of $667.50 and a twelve month high of $999.00. The business has a 50-day moving average price of $817.06 and a 200 day moving average price of $843.43. The firm has a market cap of $101.40 billion, a PE ratio of 23.27, a P/E/G 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 earnings per share for the quarter, topping 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 negative return on equity of 253.21% and a net margin of 1.12%.McKesson's quarterly revenue was up 7.7% compared to the same quarter last year. 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. On average, sell-side analysts expect that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio is currently 8.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MCK shares. Morgan Stanley reiterated an "overweight" rating on shares of McKesson in a research note on Friday, August 7th. Evercore restated an "outperform" rating on shares of McKesson in a research report on Thursday, August 6th. Weiss Ratings downgraded McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 7th. William Blair assumed coverage on McKesson in a research note on Tuesday, April 28th. They set an "outperform" rating for the company. Finally, Royal Bank Of Canada began coverage on McKesson in a report on Wednesday. They issued a "sector perform" rating for the company. 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.com, McKesson has a consensus rating of "Moderate Buy" and an average target price of $977.00.

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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