Challenger Wealth Management Buys New Shares in McKesson Corporation $MCK

Challenger Wealth Management purchased a new stake in shares of McKesson Corporation (NYSE:MCK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 502 shares of the company’s stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bauman Advisory Group LLC increased its holdings in McKesson by 2.8% during the 3rd quarter. Bauman Advisory Group LLC now owns 738 shares of the company’s stock valued at $630,000 after purchasing an additional 20 shares in the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC lifted its stake in McKesson by 6.9% in the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 712 shares of the company’s stock valued at $608,000 after acquiring an additional 46 shares during the last quarter. Signature Equity Partners LLC lifted its position in McKesson by 7.2% during the third quarter. Signature Equity Partners LLC now owns 253 shares of the company’s stock worth $216,000 after acquiring an additional 17 shares during the last quarter. Summit Wealth Group LLC Co. boosted its stake in shares of McKesson by 8.1% in the third quarter. Summit Wealth Group LLC Co. now owns 360 shares of the company’s stock valued at $307,000 after buying an additional 27 shares during the period. Finally, Independence Wealth Advisors LLC lifted its holdings in shares of McKesson by 9.9% during the 3rd quarter. Independence Wealth Advisors LLC now owns 345 shares of the company’s stock worth $295,000 after acquiring an additional 31 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MCK. TD Cowen raised their target price on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Morgan Stanley set a $977.00 target price on McKesson in a research note on Tuesday, October 6th. UBS Group boosted their price objective on McKesson from $1,080.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Finally, Barclays boosted their price objective on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $997.12.

McKesson Price Performance

NYSE:MCK opened at $1,001.05 on Tuesday. The firm has a market capitalization of $116.71 billion, a P/E ratio of 23.53, a PEG ratio of 1.91 and a beta of 0.30. The company’s 50-day simple moving average is $925.32 and its 200 day simple moving average is $863.78. McKesson Corporation has a one year low of $723.68 and a one year high of $1,030.27.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period last year, the company earned $8.26 EPS. McKesson’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, December 1st. McKesson’s dividend payout ratio is presently 10.06%.

Insider Buying and Selling

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the transaction, the chief accounting officer directly owned 521 shares in the company, valued at $464,445.45. This represents a 17.56% 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. In the last three months, insiders have sold 1,212 shares of company stock valued at $1,164,182. Corporate insiders own 0.06% of the company’s stock.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.