3,546 Shares in McKesson Corporation $MCK Acquired by Equitable Holdings Inc.

Equitable Holdings Inc. bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,546 shares of the company’s stock, valued at approximately $2,680,000.

A number of other large investors have also recently added to or reduced their stakes in MCK. BlackRock Inc. acquired a new stake in shares of McKesson during the 2nd quarter valued at $8,156,743,000. State Street Corp grew its holdings in shares of McKesson by 0.5% in the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after acquiring an additional 29,660 shares during the last quarter. Geode Capital Management LLC raised its position in shares of McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after purchasing an additional 25,082 shares during the period. Franklin Resources Inc. lifted its holdings in shares of McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after purchasing an additional 144,633 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of McKesson during the fourth quarter valued at $1,651,137,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 0.7%

MCK stock opened at $890.20 on Friday. The company has a 50 day moving average of $830.40 and a two-hundred day moving average of $843.76. The company has a market cap of $103.79 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.76 and a beta of 0.30. McKesson Corporation has a 12-month low of $677.28 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same period in the previous year, the company posted $8.26 EPS. McKesson’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, research analysts anticipate that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. 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. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio is presently 8.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Barclays raised 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, August 19th. Citigroup lifted their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Finally, Robert W. Baird set a $1,015.00 price objective on McKesson in a research report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $973.44.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction 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 $4,697,081.64. The trade was a 58.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 23,111 shares of company stock valued at $18,011,274. 0.06% of the stock is currently owned by company insiders.

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.