Diversify Wealth Management LLC Has $794,000 Stake in McKesson Corporation $MCK

Diversify Wealth Management LLC raised its stake in shares of McKesson Corporation (NYSE:MCK) by 174.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 965 shares of the company’s stock after acquiring an additional 614 shares during the quarter. Diversify Wealth Management LLC’s holdings in McKesson were worth $794,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. increased its stake 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 acquiring an additional 11 shares during the period. Investment Research Partners LLC grew its holdings in shares of McKesson by 0.7% during the 4th 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 in the last quarter. IHT Wealth Management LLC increased its position in shares of McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after purchasing an additional 11 shares during the period. LRI Investments LLC raised its stake 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 in the last quarter. Finally, Macroview Investment Management LLC boosted its stake in McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after buying an additional 12 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 5.5%

Shares of NYSE:MCK opened at $840.18 on Friday. The firm has a market cap of $98.37 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.31 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The company’s 50-day moving average price is $769.18 and its two-hundred day moving average price is $838.30.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s dividend payout ratio (DPR) is 8.53%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% 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. Over the last three months, insiders sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on MCK. UBS Group raised their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Citigroup cut their target price on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. lowered their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

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.