Atlas Capital Advisors Inc. Makes New Investment in McKesson Corporation $MCK

Atlas Capital Advisors Inc. purchased a new position in McKesson Corporation (NYSE:MCK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,645 shares of the company’s stock, valued at approximately $3,810,000.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the period. Caxton Associates LLP bought a new stake in McKesson during the first quarter valued at about $233,000. Sivia Capital Partners LLC grew its holdings in McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina grew its holdings in McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after purchasing an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. bought a new stake in McKesson during the second quarter valued at about $166,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.4%

Shares of McKesson stock opened at $783.88 on Friday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock has a 50 day moving average of $798.10 and a 200 day moving average of $846.35. The firm has a market cap of $94.22 billion, a PE ratio of 20.38, a PEG ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the prior year, the business posted $10.12 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent research reports. Bank of America cut their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Barclays dropped their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup dropped their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 11,822 shares of company stock valued at $8,986,212. Corporate insiders own 0.08% of the company’s stock.

McKesson 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.