Martin & Co. Inc. TN Purchases New Stake in McKesson Corporation $MCK

Martin & Co. Inc. TN purchased a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 12,215 shares of the company’s stock, valued at approximately $9,230,000. McKesson makes up 1.4% of Martin & Co. Inc. TN’s investment portfolio, making the stock its 11th biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of McKesson during the second quarter valued at about $8,156,743,000. Norges Bank purchased a new position in McKesson during the 4th quarter valued at about $1,651,137,000. Bank of New York Mellon Corp purchased a new position in McKesson during the 2nd quarter valued at about $599,060,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in McKesson during the 2nd quarter valued at approximately $495,737,000. Finally, Deutsche Bank AG bought a new position in McKesson during the 2nd quarter valued at approximately $337,316,000. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred on 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 directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. 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. In the last three months, insiders sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is owned by company insiders.

McKesson Trading Up 2.8%

McKesson stock opened at $862.27 on Friday. The business’s fifty day simple moving average is $820.97 and its two-hundred day simple moving average is $843.86. McKesson Corporation has a 12 month low of $673.38 and a 12 month high of $999.00. The company has a market capitalization of $100.53 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30.

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

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. 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 an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is 8.78%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Wells Fargo & Company upped their target price on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Barclays increased their target price on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average 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.