Formuepleje A S Takes Position in McKesson Corporation $MCK

Formuepleje A S bought a new position in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,730 shares of the company’s stock, valued at approximately $1,307,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares during the period. Caxton Associates LLP purchased a new position in shares of McKesson in the first quarter valued at about $233,000. Sivia Capital Partners LLC increased its position in shares of McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after acquiring an additional 300 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of McKesson during the second quarter worth about $166,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Bradley Lerman sold 301 shares of McKesson stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% 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. Insiders have sold 22,156 shares of company stock worth $17,305,242 in the last three months. 0.06% of the stock is currently owned by insiders.

McKesson Stock Performance

McKesson stock opened at $907.35 on Monday. McKesson Corporation has a fifty-two week low of $682.35 and a fifty-two week high of $999.00. The stock’s 50 day simple moving average is $848.13 and its two-hundred day simple moving average is $842.45. The stock has a market cap of $105.79 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.81 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its earnings results 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 negative return on equity of 253.21% and a net margin of 1.12%.The firm 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 company earned $8.26 EPS. The business’s 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, analysts predict that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. TD Cowen raised their target price on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Royal Bank Of Canada started coverage on McKesson in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price target for the company. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $973.44.

McKesson 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.