Performance Wealth Partners LLC Acquires Shares of 1,441 McKesson Corporation $MCK

Performance Wealth Partners LLC bought a new stake in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,441 shares of the company’s stock, valued at approximately $1,089,000.

A number of other large investors have also recently made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $26,000. State of Wyoming purchased a new position in shares of McKesson during the second quarter worth approximately $29,000. Kingdom Financial Group LLC. purchased a new position in shares of McKesson during the fourth quarter worth approximately $33,000. Finally, Birchwood Financial Partners Inc. acquired a new position in shares of McKesson in the 4th quarter valued at $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 29,049 shares of company stock worth $22,530,626. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on MCK shares. UBS Group increased their price target on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. TD Cowen increased their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wells Fargo & Company raised their price target on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $977.00.

McKesson Stock Down 0.9%

Shares of McKesson stock opened at $861.59 on Tuesday. The firm has a market cap of $100.45 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. McKesson Corporation has a 52-week low of $667.50 and a 52-week high of $999.00. The company’s 50-day simple moving average is $815.34 and its 200-day simple moving average is $843.12.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the company earned $8.26 EPS. The firm’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. Equities research analysts anticipate 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 given 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 is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is presently 10.06%.

McKesson Company 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.