Wedge Capital Management L L P NC Acquires 7,141 Shares of McKesson Corporation $MCK

Wedge Capital Management L L P NC increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 22.5% in the second quarter, HoldingsChannel reports. The firm owned 38,937 shares of the company’s stock after buying an additional 7,141 shares during the period. Wedge Capital Management L L P NC’s holdings in McKesson were worth $29,421,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MCK. Norges Bank bought a new position in shares of McKesson during the 4th quarter worth approximately $1,651,137,000. Swedbank AB boosted its position in McKesson by 42.2% during the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after purchasing an additional 263,189 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of McKesson by 4,300.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 214,693 shares of the company’s stock valued at $185,787,000 after purchasing an additional 209,814 shares during the last quarter. SurgoCap Partners LP increased its holdings in shares of McKesson by 68.7% in the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after purchasing an additional 184,106 shares during the last quarter. Finally, Amundi raised its position in shares of McKesson by 33.6% in the first quarter. Amundi now owns 623,749 shares of the company’s stock valued at $539,767,000 after purchasing an additional 156,819 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on MCK shares. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Barclays reduced their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, Evercore reiterated an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $977.00.

McKesson Stock Performance

NYSE:MCK opened at $901.66 on Wednesday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm has a market cap of $105.12 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 1.73 and a beta of 0.30. The firm’s 50-day simple moving average is $806.83 and its 200 day simple moving average is $841.94.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating 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 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts anticipate that McKesson Corporation will post 44.6 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

Insider Buying and Selling at McKesson

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,049 shares of company stock valued at $22,530,626 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

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.