Family Manage LLC Purchases Shares of 2,450 McKesson Corporation $MCK

Family Manage LLC purchased a new position in McKesson Corporation (NYSE:MCK) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,450 shares of the company’s stock, valued at approximately $2,120,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson in the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new position in McKesson during the 4th quarter valued at approximately $26,000. State of Wyoming bought a new stake in McKesson in the 2nd quarter worth approximately $29,000. Kingdom Financial Group LLC. purchased a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. Finally, Birchwood Financial Partners Inc. bought a new position in shares of McKesson during the 4th quarter valued at approximately $33,000. Institutional investors own 85.07% of the company’s stock.

Key Headlines Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson boosted its quarterly dividend to $0.94 per share from $0.82, signaling management confidence in cash flow and returning more capital to shareholders. McKesson Raises Quarterly Dividend by 15%
• Positive Sentiment: Shareholders backed the board, auditors, and executive compensation at the annual meeting, reducing governance uncertainty. McKesson Shareholders Back Board, Auditors, and Executive Pay
• Neutral Sentiment: Recent commentary from analysts has been mixed, with one piece noting conflicting views on McKesson and other healthcare names, which may keep sentiment balanced in the near term. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Neutral Sentiment: TD Cowen reportedly lowered expectations for McKesson’s stock price, adding a cautionary note despite the company’s strong operational backdrop. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America cut their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Wells Fargo & Company dropped their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. JPMorgan Chase & Co. reduced their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Barclays decreased their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $962.67.

McKesson Stock Down 0.0%

NYSE MCK opened at $840.76 on Monday. The company has a fifty day moving average of $780.04 and a two-hundred day moving average of $838.56. The firm has a market capitalization of $98.44 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.38 and a beta of 0.31. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the previous year, the business posted $10.12 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is presently 8.53%.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% 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. Over the last 90 days, insiders have sold 28,748 shares of company stock valued at $22,262,035. 0.06% of the stock is currently owned by company insiders.

McKesson 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.