McKesson Corporation $MCK Shares Bought by Continuum Advisory LLC

Continuum Advisory LLC grew its stake in shares of McKesson Corporation (NYSE:MCK) by 2,101.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,918 shares of the company’s stock after purchasing an additional 10,422 shares during the quarter. McKesson makes up 0.7% of Continuum Advisory LLC’s portfolio, making the stock its 25th largest holding. Continuum Advisory LLC’s holdings in McKesson were worth $8,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson during the 4th quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in McKesson in the fourth quarter worth $26,000. Delos Wealth Advisors LLC acquired a new stake in McKesson in the second quarter worth $27,000. State of Wyoming bought a new stake in McKesson in the second quarter valued at $29,000. Finally, Kingdom Financial Group LLC. bought a new stake in McKesson in the fourth quarter valued at $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction that occurred 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 transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 22,289 shares of company stock worth $17,406,854. 0.06% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of NYSE:MCK opened at $927.16 on Thursday. McKesson Corporation has a 12 month low of $682.35 and a 12 month high of $999.00. The stock has a market cap of $108.10 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.80 and a beta of 0.30. The stock’s 50 day moving average price is $842.13 and its 200 day moving average price is $842.72.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same period last year, the company posted $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. On average, sell-side analysts expect that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is presently 10.06%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of 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. Citigroup lifted their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. TD Cowen boosted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Finally, Barclays raised 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, August 19th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $973.44.

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.