Engineers Gate Manager LP Boosts Stake in McKesson Corporation $MCK

Engineers Gate Manager LP boosted its position in McKesson Corporation (NYSE:MCK) by 57.8% in the 2nd quarter, Holdings Channel reports. The firm owned 28,240 shares of the company’s stock after buying an additional 10,346 shares during the quarter. Engineers Gate Manager LP’s holdings in McKesson were worth $21,338,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MCK. University of Texas Texas AM Investment Management Co. bought a new stake in shares of McKesson during the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in McKesson in the 4th quarter valued at $26,000. Delos Wealth Advisors LLC purchased a new stake in McKesson in the second quarter worth $27,000. State of Wyoming purchased a new stake in McKesson in the second quarter worth $29,000. Finally, Kingdom Financial Group LLC. bought a new stake in shares of McKesson during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCK. TD Cowen upped their price target on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a report on Thursday, August 6th. Morgan Stanley reissued an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Royal Bank Of Canada assumed coverage on shares of McKesson in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 target price on the stock. Finally, Evercore reaffirmed an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $973.44.

McKesson Stock Performance

NYSE MCK opened at $894.38 on Thursday. McKesson Corporation has a one year low of $687.68 and a one year high of $999.00. The company has a market capitalization of $104.28 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.77 and a beta of 0.30. The company’s 50-day simple moving average is $856.40 and its two-hundred day simple moving average is $841.46.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share 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 firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the prior year, the company earned $8.26 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. 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%. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

Insiders Place Their Bets

In other McKesson news, CEO Brian Tyler sold 8,463 shares of the stock in a transaction 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 sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their position. The sale 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 Lerman sold 301 shares of McKesson stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 17,227 shares of company stock valued at $13,544,415. 0.06% of the stock is owned by company insiders.

McKesson Company Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.