1,036 Shares in McKesson Corporation $MCK Bought by West Family Investments Inc.

West Family Investments Inc. purchased a new position in McKesson Corporation (NYSE:MCK) in the second quarter, Holdings Channel.com reports. The firm purchased 1,036 shares of the company’s stock, valued at approximately $783,000.

Several other large investors have also made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new position in McKesson in the 4th quarter worth approximately $26,000. State of Wyoming purchased a new position in McKesson in the 2nd quarter worth approximately $29,000. Kingdom Financial Group LLC. bought a new position in McKesson in the 4th quarter worth approximately $33,000. Finally, Birchwood Financial Partners Inc. bought a new position in McKesson in the 4th quarter worth approximately $33,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

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 value of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. This represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% 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 sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is owned by company insiders.

McKesson Trading Down 1.8%

McKesson stock opened at $853.53 on Thursday. McKesson Corporation has a 12-month low of $673.38 and a 12-month high of $999.00. The firm has a 50-day moving average price of $818.34 and a 200-day moving average price of $843.66. The firm has a market capitalization of $99.51 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. The company 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%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on MCK. William Blair began coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research note on Thursday, August 6th. Barclays boosted their target price on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup lifted their price objective on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. lowered their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.