Pittenger & Anderson Inc. Buys New Stake in McKesson Corporation $MCK

Pittenger & Anderson Inc. acquired a new stake in McKesson Corporation (NYSE:MCK) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 635 shares of the company’s stock, valued at approximately $550,000.

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

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,748 shares of company stock valued at $22,262,035 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

McKesson Stock Performance

Shares of McKesson stock opened at $805.31 on Monday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The company’s fifty day moving average is $766.35 and its two-hundred day moving average is $838.68. The company has a market capitalization of $94.29 billion, a P/E ratio of 20.93, a PEG ratio of 1.33 and a beta of 0.31.

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

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s dividend payout ratio is currently 8.53%.

Analysts Set New Price Targets

Several research firms recently issued reports on MCK. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Citigroup dropped their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. William Blair assumed coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. Barclays decreased their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Finally, UBS Group lifted their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

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.