Proficio Capital Partners LLC Buys Shares of 625 McKesson Corporation $MCK

Proficio Capital Partners LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 625 shares of the company’s stock, valued at approximately $472,000.

Several other large investors also recently modified their holdings of MCK. Brighton Jones LLC raised its stake in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares during the period. Caxton Associates LLP bought a new position in shares of McKesson during the 1st quarter worth $233,000. Sivia Capital Partners LLC increased its holdings in McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after acquiring an additional 300 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after acquiring an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. bought a new stake in McKesson in the 2nd quarter valued at about $166,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $890.20 on Friday. McKesson Corporation has a 52-week low of $677.28 and a 52-week high of $999.00. The stock’s 50-day simple moving average is $830.40 and its 200 day simple moving average is $843.76. The stock has a market capitalization of $103.79 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the firm earned $8.26 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts forecast 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. Investors of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio is presently 8.78%.

Insider Activity

In related news, Director Bradley E. Lerman sold 301 shares of the company’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 transaction of $268,591.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,111 shares of company stock worth $18,011,274 in the last three months. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MCK. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a report on Thursday, August 6th. Finally, UBS Group lifted their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.