D L Carlson Investment Group Inc. Purchases New Shares in McKesson Corporation $MCK

D L Carlson Investment Group Inc. acquired a new position in McKesson Corporation (NYSE:MCK) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,522 shares of the company’s stock, valued at approximately $3,417,000.

Other hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of McKesson in the 4th quarter valued at about $25,000. Swiss RE Ltd. acquired a new stake in McKesson in the fourth quarter valued at approximately $26,000. State of Wyoming purchased a new stake in shares of McKesson in the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. purchased a new stake in shares of McKesson in the fourth quarter valued at approximately $33,000. Finally, Birchwood Financial Partners Inc. acquired a new position in shares of McKesson during the 4th quarter worth approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% decrease in their position. 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. Insiders sold a total of 29,049 shares of company stock valued at $22,530,626 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

McKesson Price Performance

Shares of NYSE:MCK opened at $841.21 on Friday. McKesson Corporation has a 1 year low of $673.38 and a 1 year high of $999.00. The firm has a market capitalization of $98.08 billion, a PE ratio of 22.51, a P/E/G ratio of 1.68 and a beta of 0.30. The business’s 50 day moving average price is $819.40 and its 200-day moving average price is $843.73.

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. 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 for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter last year, the firm posted $8.26 EPS. The firm’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. As a group, analysts expect that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The firm 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 $0.94 dividend. This is an increase 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 10.06%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCK. Citigroup increased their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company upped their price objective on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Finally, Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Fourteen equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $973.44.

McKesson Company 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.