Empowered Funds LLC Has $53.69 Million Holdings in McKesson Corporation $MCK

Empowered Funds LLC lifted its position in McKesson Corporation (NYSE:MCK) by 60.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,047 shares of the company’s stock after buying an additional 23,294 shares during the quarter. Empowered Funds LLC’s holdings in McKesson were worth $53,693,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MCK. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. bought a new position in shares of McKesson in the 4th quarter valued at about $26,000. State of Wyoming acquired a new position in shares of McKesson during the 2nd quarter worth about $29,000. Kingdom Financial Group LLC. acquired a new position in shares of McKesson during the 4th quarter worth about $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of McKesson in the 4th quarter valued at about $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MCK shares. William Blair began coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Bank of America lowered their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. JPMorgan Chase & Co. dropped their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, UBS Group lifted their target price on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $962.67.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. 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. Insiders have sold a total of 28,748 shares of company stock worth $22,262,035 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of MCK opened at $850.94 on Tuesday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm has a market cap of $99.63 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.38 and a beta of 0.31. The firm’s 50-day simple moving average is $781.55 and its 200 day simple moving average is $838.73.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current 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 paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio is 9.77%.

About McKesson

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.