PCM Encore LLC Purchases Shares of 912 McKesson Corporation $MCK

PCM Encore LLC purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 912 shares of the company’s stock, valued at approximately $689,000.

Other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson during the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new position in McKesson during the fourth quarter worth $26,000. State of Wyoming acquired a new stake in McKesson in the second quarter worth $29,000. Kingdom Financial Group LLC. acquired a new stake in McKesson in the fourth quarter worth $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in McKesson in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MCK shares. Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. JPMorgan Chase & Co. decreased 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. William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. Citigroup upped their price target 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, Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $973.44.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction 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 owned 632 shares in the company, valued at approximately $482,848. This represents a 17.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,049 shares of company stock valued at $22,530,626 in the last three months. 0.06% of the stock is owned by corporate insiders.

McKesson Stock Down 1.5%

Shares of McKesson stock opened at $841.21 on Friday. The company has a market cap of $98.08 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.68 and a beta of 0.30. McKesson Corporation has a 52 week low of $673.38 and a 52 week high of $999.00. The business has a 50 day moving average price of $819.40 and a 200-day moving average price of $843.73.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

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.