720 Shares of McKesson Corporation $MCK Purchased by Gray Private Wealth LLC

Gray Private Wealth LLC purchased a new position in McKesson Corporation (NYSE:MCK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 720 shares of the company’s stock, valued at approximately $615,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. BlackRock Inc. purchased a new stake in shares of McKesson in the 2nd quarter valued at approximately $8,156,743,000. Bank of America Corp DE lifted its position in shares of McKesson by 2.4% during the 1st quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock worth $1,331,552,000 after purchasing an additional 35,916 shares during the last quarter. Swedbank AB lifted its position in shares of McKesson by 13.5% during the 1st quarter. Swedbank AB now owns 1,005,610 shares of the company’s stock worth $870,215,000 after purchasing an additional 119,327 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of McKesson by 3.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock worth $697,096,000 after purchasing an additional 29,747 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of McKesson during the second quarter worth $656,566,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, EVP Francisco Fraga sold 800 shares of McKesson stock in a transaction 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 completion of the transaction, the executive vice president owned 5,423 shares of the company’s stock, valued at $5,400,223.40. The trade was a 12.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, 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. In the last ninety days, insiders sold 1,212 shares of company stock worth $1,164,182. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. TD Cowen increased their target price on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th. Argus upped their price objective on McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Wells Fargo & Company raised their price objective on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Finally, Barclays boosted their price target on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $997.12.

McKesson Trading Up 1.4%

Shares of McKesson stock opened at $994.77 on Friday. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,030.27. The business’s fifty day moving average price is $922.54 and its 200 day moving average price is $862.89. The stock has a market capitalization of $115.98 billion, a P/E ratio of 26.62, a PEG ratio of 1.95 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating 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 business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter last year, the firm posted $8.26 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts predict that McKesson Corporation will post 44.71 EPS for the current year.

McKesson Dividend Announcement

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

McKesson Profile

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.