EP Wealth Advisors LLC Acquires Shares of 18,168 McKesson Corporation $MCK

EP Wealth Advisors LLC bought a new position in McKesson Corporation (NYSE:MCK) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,168 shares of the company’s stock, valued at approximately $13,728,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new position in McKesson in the 1st quarter worth about $233,000. Sivia Capital Partners LLC increased its stake 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 buying an additional 300 shares during the period. Treasurer of the State of North Carolina lifted its holdings in McKesson by 0.9% during 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 buying an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in McKesson during the 2nd quarter valued at about $166,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a legal filing 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 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 sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their position. 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 29,049 shares of company stock valued at $22,530,626 over the last quarter. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Barclays lifted their price target on shares of McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank Of Canada began coverage on McKesson in a report on Wednesday. They issued a “sector perform” rating and a $845.00 price target for the company. TD Cowen boosted their price target on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

McKesson Price Performance

NYSE:MCK opened at $862.27 on Friday. McKesson Corporation has a 1-year low of $673.38 and a 1-year high of $999.00. The company has a 50-day moving average of $820.97 and a 200 day moving average of $843.86. The firm has a market cap of $100.53 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.65 and a beta of 0.30.

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

McKesson Increases Dividend

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

McKesson 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.