Old North State Trust LLC Acquires Shares of 997 McKesson Corporation $MCK

Old North State Trust LLC acquired a new stake in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 997 shares of the company’s stock, valued at approximately $753,000.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on MCK shares. Citigroup boosted their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Royal Bank Of Canada initiated coverage on shares of McKesson in a report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Finally, UBS Group increased their target price 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. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $973.44.

McKesson Stock Down 0.7%

Shares of NYSE MCK opened at $890.20 on Friday. The company’s 50-day simple moving average is $830.40 and its 200-day simple moving average is $843.76. McKesson Corporation has a 52-week low of $677.28 and a 52-week high of $999.00. The firm has a market cap of $103.79 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30.

McKesson (NYSE:MCK) last released 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. The firm had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is 8.78%.

Insider Transactions at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,463 shares of the 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 completion of the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,111 shares of company stock valued at $18,011,274 over the last ninety days. Company insiders own 0.06% of the company’s stock.

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.