Challenger Wealth Management Makes New $429,000 Investment in McKesson Corporation $MCK

Challenger Wealth Management purchased a new stake in McKesson Corporation (NYSE:MCK) in the third quarter, HoldingsChannel reports. The institutional investor purchased 502 shares of the company’s stock, valued at approximately $429,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in McKesson during the 2nd quarter worth $8,156,743,000. Bank of America Corp DE lifted its holdings in McKesson by 2.4% in the 1st quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock valued at $1,331,552,000 after purchasing an additional 35,916 shares in the last quarter. Swedbank AB grew its holdings in McKesson by 13.5% in the 1st quarter. Swedbank AB now owns 1,005,610 shares of the company’s stock valued at $870,215,000 after buying an additional 119,327 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of McKesson by 3.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock worth $697,096,000 after buying an additional 29,747 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of McKesson during the second quarter worth about $656,566,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

MCK opened at $1,001.05 on Tuesday. The stock has a market capitalization of $116.71 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.91 and a beta of 0.30. The company’s 50 day simple moving average is $925.32 and its 200-day simple moving average is $863.78. McKesson Corporation has a one year low of $723.68 and a one year high of $1,030.27.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts anticipate that McKesson Corporation will post 44.71 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, December 1st. McKesson’s dividend payout ratio is currently 10.06%.

Insider Transactions at McKesson

In related news, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction that occurred 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 can be accessed through the SEC website. Also, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $995.80, for a total value of $796,640.00. Following the transaction, the executive vice president directly owned 5,423 shares in the company, valued at approximately $5,400,223.40. This represents a 12.86% 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. Insiders sold 1,212 shares of company stock worth $1,164,182 over the last ninety days. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. Argus raised their price objective on shares of McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Barclays increased their price objective on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Mizuho upped their price objective on McKesson from $905.00 to $1,020.00 and gave the company a “neutral” rating in a report on Tuesday, October 20th. Citigroup raised their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Robert W. Baird set a $1,015.00 target price on McKesson in a report on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $997.12.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.