Strategic Global Advisors LLC Invests $7.98 Million in McKesson Corporation $MCK

Strategic Global Advisors LLC purchased a new position in shares of McKesson Corporation (NYSE:MCK) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 10,557 shares of the company’s stock, valued at approximately $7,977,000. McKesson accounts for 1.1% of Strategic Global Advisors LLC’s investment portfolio, making the stock its 23rd biggest position.

Other hedge funds also recently added to or reduced their stakes in the company. Caisse de depot et placement du Quebec purchased a new position in shares of McKesson during the second quarter valued at approximately $1,745,000. Gallagher Fiduciary Advisors LLC purchased a new stake in shares of McKesson in the second quarter worth approximately $381,000. Man Group plc purchased a new stake in shares of McKesson in the second quarter worth approximately $129,166,000. Councilmark Asset Management LLC bought a new stake in shares of McKesson during the 2nd quarter worth approximately $7,032,000. Finally, First Bancorp Inc ME bought a new stake in shares of McKesson during the 2nd quarter worth approximately $433,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Citigroup upped their price target on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The transaction was disclosed in a document filed 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 business’s stock in a transaction dated 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 23,111 shares of company stock valued at $18,011,274 in the last ninety days. 0.06% of the stock is owned by insiders.

McKesson Stock Down 0.8%

MCK opened at $898.06 on Thursday. The stock’s fifty day moving average is $827.60 and its two-hundred day moving average is $844.17. The company has a market capitalization of $104.70 billion, a P/E ratio of 24.03, a PEG ratio of 1.78 and a beta of 0.30. McKesson Corporation has a 52 week low of $677.28 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last issued 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 period in the previous year, the company posted $8.26 EPS. McKesson’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 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 issued a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 10.06%.

McKesson News Roundup

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson’s agreement to acquire Precision Medicine Group would expand its clinical research and drug-commercialization capabilities. Management expects the business to complement its oncology operations and create additional growth opportunities in specialty pharmaceuticals. Reuters: McKesson to buy Precision Medicine Group
• Positive Sentiment: Short interest in McKesson fell 33% to about 2.42 million shares as of August 14, representing just 2.1% of shares outstanding and 2.2 days of average trading volume. The reduction suggests less bearish positioning and may provide technical support for the stock.
• Positive Sentiment: Analyst commentary remains constructive on McKesson’s specialty distribution, oncology and technology businesses. The company’s latest reported quarter also exceeded earnings and revenue expectations, supporting the view that its core operations remain resilient. Zacks: Why retain McKesson stock
• Neutral Sentiment: McKesson Ventures’ latest report highlighted artificial intelligence, enterprise demand and investor confidence as major forces reshaping pharmaceutical technology. This could create strategic opportunities, although the report does not announce a specific financial commitment or revenue impact for MCK. McKesson Ventures pharma technology report
• Negative Sentiment: The Precision Medicine transaction comes amid a McKesson reorganization and reported layoffs. Investors may be concerned about restructuring costs, execution risk and whether the acquisition will deliver sufficient returns to offset its $2.25 billion price tag. McKesson acquisition and reorganization
• Negative Sentiment: Longer-term risks remain from drug-pricing pressure and potential healthcare-policy changes. These concerns could limit margins even as McKesson expands into higher-growth specialty and biopharmaceutical services. Zacks McKesson risks

About McKesson

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.