McKesson Corporation $MCK Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. lowered its holdings in shares of McKesson Corporation (NYSE:MCK) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,497 shares of the company’s stock after selling 650 shares during the period. Valley National Advisers Inc.’s holdings in McKesson were worth $2,132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Secure Asset Management LLC raised its stake in McKesson by 484.8% during the second quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock valued at $1,604,000 after buying an additional 1,760 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in McKesson by 1.1% in the second quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock worth $84,809,000 after acquiring an additional 1,216 shares in the last quarter. Benchmark Investment Advisors LLC bought a new stake in McKesson in the second quarter worth $441,000. Summit Global Investments bought a new stake in McKesson in the second quarter worth $1,159,000. Finally, One Wealth Advisors LLC purchased a new stake in shares of McKesson in the second quarter worth $1,494,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. 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 research note on Thursday, August 6th. Evercore reissued an “outperform” rating and set a $950.00 price objective (down from $1,000.00) on shares of McKesson in a research report on Thursday, August 6th. Leerink Partners raised their price objective on shares of McKesson from $1,030.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Wednesday, October 7th. Finally, Mizuho lifted their target price on McKesson from $905.00 to $1,020.00 and gave the stock a “neutral” rating in a report on Tuesday, October 20th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $997.12.

Insider Buying and Selling

In related news, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $995.80, for a total value of $796,640.00. Following the sale, the executive vice president owned 5,423 shares in the company, valued at approximately $5,400,223.40. This trade represents a 12.86% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 B Jr sold 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the sale, the chief accounting officer directly owned 521 shares of the company’s stock, valued at approximately $464,445.45. This trade represents a 17.56% 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. Over the last quarter, insiders have sold 1,212 shares of company stock worth $1,164,182. 0.06% of the stock is owned by insiders.

McKesson Stock Down 1.2%

Shares of NYSE MCK opened at $1,000.53 on Friday. The firm’s 50-day moving average price is $911.33 and its 200-day moving average price is $842.38. The company has a market cap of $116.65 billion, a PE ratio of 26.77, a PEG ratio of 1.99 and a beta of 0.30. McKesson Corporation has a 52-week low of $723.68 and a 52-week high of $1,030.27.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $103.88 billion. During the same period in the previous year, the business posted $8.26 earnings per share. The business’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, equities research analysts anticipate that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a $0.94 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.