First Nebraska Trust Co Takes $631,000 Position in McKesson Corporation $MCK

First Nebraska Trust Co bought a new position in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 835 shares of the company’s stock, valued at approximately $631,000.

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

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction 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 sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 on Tuesday, July 7th. The stock was 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 of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% 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. Insiders have sold a total of 29,049 shares of company stock valued at $22,530,626 over the last ninety days. Company insiders own 0.06% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $862.27 on Friday. McKesson Corporation has a 1-year low of $673.38 and a 1-year high of $999.00. The company has a 50-day moving average of $820.97 and a 200 day moving average of $843.86. The firm has a market cap of $100.53 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter last year, the firm posted $8.26 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts anticipate that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MCK shares. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Robert W. Baird set a $1,015.00 target price on McKesson in a research note on Thursday, August 6th. William Blair assumed coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, Citigroup lifted their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $973.44.

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.