EP Wealth Advisors LLC Purchases Shares of 18,168 McKesson Corporation $MCK

EP Wealth Advisors LLC purchased a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 18,168 shares of the company’s stock, valued at approximately $13,728,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. BlackRock Inc. bought a new position in shares of McKesson during the 2nd quarter worth approximately $8,156,743,000. Norges Bank acquired a new stake in McKesson in the fourth quarter valued at approximately $1,651,137,000. Bank of New York Mellon Corp acquired a new stake in McKesson in the second quarter valued at approximately $599,060,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in McKesson in the second quarter worth $495,737,000. Finally, Deutsche Bank AG purchased a new position in McKesson in the second quarter worth $337,316,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,049 shares of company stock worth $22,530,626 over the last three months. Corporate insiders own 0.06% of the company’s stock.

McKesson Trading Up 2.8%

Shares of McKesson stock opened at $862.27 on Friday. McKesson Corporation has a 12-month low of $673.38 and a 12-month high of $999.00. The firm has a market capitalization of $100.53 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.65 and a beta of 0.30. The firm’s 50 day simple moving average is $820.97 and its two-hundred day simple moving average is $843.86.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping 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 business had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter last year, the company posted $8.26 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, sell-side analysts predict that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.94 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 8.78%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. William Blair initiated coverage on McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Robert W. Baird set a $1,015.00 price objective on McKesson in a research report on Thursday, August 6th. Royal Bank Of Canada assumed coverage on McKesson in a research note on Wednesday. They set a “sector perform” rating and a $845.00 target price on the stock. JPMorgan Chase & Co. reduced their target price 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. Finally, Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.

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.