Global Retirement Partners LLC Takes $3.03 Million Position in McKesson Corporation $MCK

Global Retirement Partners LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,012 shares of the company’s stock, valued at approximately $3,032,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. bought a new position in shares of McKesson in the 4th quarter worth about $26,000. State of Wyoming acquired a new position in shares of McKesson in the 2nd quarter valued at about $29,000. Kingdom Financial Group LLC. acquired a new position in shares of McKesson in the 4th quarter valued at about $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of McKesson during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other 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 directly owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This trade represents a 23.56% 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. In the last 90 days, insiders have sold 29,049 shares of company stock valued at $22,530,626. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research reports. Citigroup increased their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. William Blair assumed coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 target price on shares of McKesson in a report on Friday, May 8th. TD Cowen increased their price target on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $977.00.

McKesson Stock Down 0.0%

MCK stock opened at $868.72 on Monday. McKesson Corporation has a fifty-two week low of $667.50 and a fifty-two week high of $999.00. The firm’s 50-day simple moving average is $813.45 and its 200 day simple moving average is $842.94. The stock has a market cap of $101.28 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30.

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

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. 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. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio is presently 8.78%.

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.