Expressive Wealth LLC Buys Shares of 611 McKesson Corporation $MCK

Expressive Wealth LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, HoldingsChannel reports. The fund bought 611 shares of the company’s stock, valued at approximately $462,000.

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson during the 4th quarter worth $25,000. Swiss RE Ltd. bought a new position in McKesson in the fourth quarter valued at about $26,000. State of Wyoming bought a new position in McKesson in the second quarter valued at about $29,000. Kingdom Financial Group LLC. acquired a new stake in shares of McKesson during the fourth quarter valued at about $33,000. Finally, Birchwood Financial Partners Inc. acquired a new stake in shares of McKesson during the fourth quarter valued at about $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. Insiders sold a total of 29,049 shares of company stock valued at $22,530,626 over the last 90 days. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

MCK has been the subject of several recent research reports. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. TD Cowen lifted their target price 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. Wells Fargo & Company boosted their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $973.44.

McKesson Price Performance

McKesson stock opened at $862.27 on Friday. The stock’s 50 day moving average is $820.97 and its 200 day moving average is $843.86. The firm has a market cap of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.65 and a beta of 0.30. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00.

McKesson (NYSE:MCK) last announced its 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 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 analysts’ expectations of $103.88 billion. During the same period in the prior year, the business posted $8.26 earnings per share. The firm’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. Equities analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

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.