Greenup Street Wealth Management LLC Purchases 2,894 Shares of McKesson Corporation $MCK

Greenup Street Wealth Management LLC purchased a new position in McKesson Corporation (NYSE:MCK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,894 shares of the company’s stock, valued at approximately $2,471,000.

Several other institutional investors and hedge funds have also made changes to their positions in MCK. Nvwm LLC boosted its stake in shares of McKesson by 933.3% during the third quarter. Nvwm LLC now owns 31 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the last quarter. Delos Wealth Advisors LLC acquired a new position in McKesson in the 2nd quarter valued at about $27,000. Trellis Wealth Advisors LLC acquired a new position in McKesson in the 3rd quarter valued at about $32,000. Clearstead Trust LLC purchased a new position in McKesson in the 2nd quarter valued at about $37,000. Finally, GK Wealth Management LLC purchased a new position in McKesson in the 3rd quarter valued at about $38,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCK. Bank of America lifted their price target on shares of McKesson from $950.00 to $1,050.00 in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a research note on Thursday, August 6th. Royal Bank Of Canada reissued a “sector perform” rating and set a $845.00 price objective on shares of McKesson in a research note on Monday, September 14th. Citigroup raised their target price on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $997.12.

McKesson Stock Up 1.4%

Shares of MCK opened at $994.77 on Friday. The firm has a market cap of $115.98 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.95 and a beta of 0.30. The company’s fifty day moving average is $922.54 and its two-hundred day moving average is $862.89. McKesson Corporation has a fifty-two week low of $723.68 and a fifty-two week high of $1,030.27.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $8.26 EPS. 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 earnings per share for the current year.

McKesson Announces Dividend

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

Insider Buying and Selling at McKesson

In other news, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the transaction, the executive vice president directly owned 5,423 shares in the company, valued at $5,400,223.40. This trade represents a 12.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,212 shares of company stock valued at $1,164,182. Company insiders own 0.06% of the company’s stock.

McKesson Company 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.