Heartland Bank & Trust Co Makes New $743,000 Investment in McKesson Corporation $MCK

Heartland Bank & Trust Co bought a new stake in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 983 shares of the company’s stock, valued at approximately $743,000.

Other hedge funds have also made changes to their positions in the company. Horizon Investments LLC grew its holdings in McKesson by 125.4% during the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock valued at $7,119,000 after buying an additional 4,828 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of McKesson by 62.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock valued at $2,590,000 after acquiring an additional 1,219 shares during the last quarter. Walter Public Investments Inc. acquired a new position in McKesson in the 4th quarter valued at about $6,538,000. Artemis Investment Management LLP lifted its holdings in McKesson by 149.9% in the 4th quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock valued at $9,574,000 after purchasing an additional 7,000 shares in the last quarter. Finally, North Dakota State Investment Board purchased a new position in McKesson in the 4th quarter valued at about $3,969,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MCK. Royal Bank Of Canada initiated coverage on shares of McKesson in a report on Wednesday. They set a “sector perform” rating and a $845.00 price target for the company. JPMorgan Chase & Co. lowered their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. William Blair began coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Barclays increased their price target on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research report 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $973.44.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of McKesson 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 in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is currently owned by insiders.

McKesson Price Performance

NYSE MCK opened at $862.27 on Friday. The firm has a market capitalization of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.65 and a beta of 0.30. McKesson Corporation has a 1-year low of $673.38 and a 1-year high of $999.00. The business’s 50-day simple moving average is $820.97 and its 200-day simple moving average is $843.86.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the prior year, the business earned $8.26 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

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

About McKesson

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.