Centaurus Financial Inc. Takes $3.44 Million Position in McKesson Corporation $MCK

Centaurus Financial Inc. purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,557 shares of the company’s stock, valued at approximately $3,443,000.

Several other institutional investors have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new stake in shares of McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. bought a new position in shares of McKesson in the fourth quarter valued at about $26,000. Delos Wealth Advisors LLC bought a new position in shares of McKesson in the second quarter valued at about $27,000. State of Wyoming acquired a new position in McKesson during the 2nd quarter worth about $29,000. Finally, Kingdom Financial Group LLC. acquired a new position in McKesson during the 4th quarter worth about $33,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of the company’s 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 transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a 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, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This represents a 23.56% 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. In the last three months, insiders sold 23,111 shares of company stock worth $18,011,274. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MCK. JPMorgan Chase & Co. lowered their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada initiated coverage on shares of McKesson in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 target price on the stock. Citigroup increased their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Morgan Stanley reissued an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Finally, Wells Fargo & Company upped their price objective on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $973.44.

McKesson Trading Down 0.7%

NYSE:MCK opened at $890.20 on Friday. The firm has a market capitalization of $103.79 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.76 and a beta of 0.30. The business’s 50-day moving average price is $830.40 and its two-hundred day moving average price is $843.76. McKesson Corporation has a 1-year low of $677.28 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts predict that McKesson Corporation will post 44.65 earnings per share 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 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 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.78%.

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.