Pallas Capital Advisors LLC Acquires Shares of 2,213 McKesson Corporation $MCK

Pallas Capital Advisors LLC bought a new position in McKesson Corporation (NYSE:MCK) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 2,213 shares of the company’s stock, valued at approximately $1,672,000.

Several other large investors have also recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. lifted its position in McKesson by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after buying an additional 11 shares during the last quarter. Investment Research Partners LLC increased its position in McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after acquiring an additional 11 shares during the last quarter. IHT Wealth Management LLC increased its position in McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after acquiring an additional 11 shares during the last quarter. LRI Investments LLC raised its stake in shares of McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock valued at $91,000 after acquiring an additional 12 shares during the period. Finally, Macroview Investment Management LLC lifted its holdings in shares of McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after acquiring an additional 12 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. William Blair began coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. TD Cowen increased their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. UBS Group raised their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Robert W. Baird set a $1,015.00 price target on McKesson in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $977.00.

McKesson Trading Down 0.9%

NYSE MCK opened at $861.59 on Tuesday. The company’s 50-day moving average price is $815.34 and its 200-day moving average price is $843.12. The stock has a market cap of $100.45 billion, a PE ratio of 23.06, a PEG ratio of 1.71 and a beta of 0.30. McKesson Corporation has a 12 month low of $667.50 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 10.06%.

Insider Activity

In related news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 29,049 shares of company stock valued at $22,530,626. Insiders own 0.06% of the company’s stock.

About McKesson

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.