Haverford Financial Services Inc. Makes New Investment in McKesson Corporation $MCK

Haverford Financial Services Inc. bought a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,564 shares of the company’s stock, valued at approximately $7,227,000. McKesson comprises approximately 2.1% of Haverford Financial Services Inc.’s portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson in the fourth quarter worth $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson during the 4th quarter valued at $26,000. State of Wyoming bought a new position in shares of McKesson during the 2nd quarter worth $29,000. Kingdom Financial Group LLC. bought a new position in shares of McKesson during the 4th quarter worth $33,000. Finally, Birchwood Financial Partners Inc. purchased a new stake in McKesson in the 4th quarter worth about $33,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group upped their price objective 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Wells Fargo & Company upped their price target on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

McKesson Stock Up 0.4%

MCK stock opened at $862.27 on Monday. The firm has a market capitalization of $100.53 billion, a PE ratio of 23.07, a PEG ratio of 1.69 and a beta of 0.30. McKesson Corporation has a twelve month low of $673.38 and a twelve month high of $999.00. The stock has a 50-day simple moving average of $820.97 and a two-hundred day simple moving average of $843.84.

McKesson (NYSE:MCK) last announced 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. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same period in the prior year, the business posted $8.26 earnings per share. The company’s 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, equities research analysts anticipate 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 issued a dividend of $0.94 per share. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is currently 10.06%.

Insiders Place Their Bets

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas L. Rodgers sold 699 shares of the firm’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 transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. The trade was a 23.56% 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. Over the last ninety days, insiders sold 29,049 shares of company stock worth $22,530,626. Company insiders own 0.06% of the company’s stock.

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.