Beverly Hills Private Wealth LLC Invests $1.42 Million in McKesson Corporation $MCK

Beverly Hills Private Wealth LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, Holdings Channel reports. The firm bought 1,877 shares of the company’s stock, valued at approximately $1,418,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. OneDigital Investment Advisors LLC bought a new position in McKesson in the second quarter valued at about $1,606,000. Firetrail Investments PTY Ltd. purchased a new position in McKesson during the second quarter valued at approximately $11,949,000. Plato Investment Management Ltd purchased a new position in shares of McKesson during the 2nd quarter valued at $2,748,000. Bell Investment Advisors Inc purchased a new position in shares of McKesson in the second quarter valued at about $39,000. Finally, AMG National Trust Bank purchased a new position in McKesson in the 2nd quarter worth approximately $2,665,000. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on MCK shares. TD Cowen increased their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Citigroup raised their price target on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. lowered their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, William Blair started coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $977.00.

McKesson Stock Performance

NYSE:MCK opened at $868.72 on Monday. The stock has a market capitalization of $101.28 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.71 and a beta of 0.30. McKesson Corporation has a fifty-two week low of $667.50 and a fifty-two week high of $999.00. The company’s 50-day simple moving average is $813.45 and its 200-day simple moving average is $842.94.

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

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is presently 8.78%.

Insider Activity

In related news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% 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. Over the last ninety days, insiders sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is owned by corporate insiders.

About McKesson

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.