Headlands Technologies LLC Acquires 1,433 Shares of McKesson Corporation $MCK

Headlands Technologies LLC boosted its stake in McKesson Corporation (NYSE:MCK) by 424.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,771 shares of the company’s stock after purchasing an additional 1,433 shares during the period. Headlands Technologies LLC’s holdings in McKesson were worth $1,338,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MCK. University of Texas Texas AM Investment Management Co. bought a new position in McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. acquired a new position in shares of McKesson during the fourth quarter worth approximately $26,000. Delos Wealth Advisors LLC bought a new position in shares of McKesson in the second quarter valued at $27,000. State of Wyoming acquired a new position in McKesson during the 2nd quarter valued at about $29,000. Finally, Kingdom Financial Group LLC. bought a new stake in McKesson during the fourth quarter worth $33,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.9%

MCK opened at $885.36 on Tuesday. The stock has a 50-day moving average price of $836.11 and a 200-day moving average price of $842.95. McKesson Corporation has a 12-month low of $679.65 and a 12-month high of $999.00. The stock has a market capitalization of $103.22 billion, a P/E ratio of 23.69, a PEG ratio of 1.76 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.McKesson’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $8.26 EPS. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is presently 8.78%.

Insider Transactions at McKesson

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated 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 owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 22,289 shares of company stock worth $17,406,854. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Royal Bank Of Canada initiated coverage on McKesson in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 target price on the stock. Morgan Stanley reissued an “overweight” rating on shares of McKesson in a report on Friday, August 7th. TD Cowen lifted their price objective on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Citigroup upped their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Fourteen 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, McKesson currently has an average rating of “Moderate Buy” and an average 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.