Heron Bay Capital Management Invests $31.57 Million in McKesson Corporation $MCK

Heron Bay Capital Management acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 41,781 shares of the company’s stock, valued at approximately $31,569,000. McKesson accounts for about 2.9% of Heron Bay Capital Management’s holdings, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. acquired a new position in shares of McKesson in the fourth quarter worth $26,000. State of Wyoming purchased a new stake in shares of McKesson in the second quarter valued at $29,000. Kingdom Financial Group LLC. purchased a new stake in shares of McKesson in the fourth quarter valued at $33,000. Finally, Birchwood Financial Partners Inc. acquired a new stake in shares of McKesson during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their position. The sale 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, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, 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. 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. Insiders have sold a total of 29,049 shares of company stock valued at $22,530,626 in the last ninety days. 0.06% of the stock is owned by company insiders.

McKesson Trading Up 2.8%

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

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal 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 represents a $3.76 annualized dividend and a yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is currently 8.78%.

Wall Street Analyst Weigh In

MCK has been the subject of a number of recent research reports. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. UBS Group upped their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price 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.