Empirical Asset Management LLC Makes New $754,000 Investment in McKesson Corporation $MCK

Empirical Asset Management LLC acquired a new stake in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 998 shares of the company’s stock, valued at approximately $754,000.

A number of other hedge funds have also modified their holdings of MCK. Brighton Jones LLC grew its position in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares during the period. Caxton Associates LLP bought a new stake in shares of McKesson in the 1st quarter worth about $233,000. Sivia Capital Partners LLC increased its position in shares of McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in McKesson by 0.9% during the 2nd 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 last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson during the 2nd quarter valued at about $166,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. This represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is owned by corporate insiders.

McKesson Trading Up 1.1%

McKesson stock opened at $869.73 on Wednesday. The firm has a market capitalization of $101.40 billion, a P/E ratio of 23.27, a PEG ratio of 1.71 and a beta of 0.30. The business has a 50-day moving average of $817.06 and a 200-day moving average of $843.43. McKesson Corporation has a 1 year low of $667.50 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share 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 period last year, the company posted $8.26 EPS. McKesson’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. Research analysts anticipate that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is 8.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCK. Evercore reaffirmed an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price objective on McKesson in a research note on Thursday, August 6th. Wells Fargo & Company increased their target price on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. TD Cowen lifted their price target on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Barclays decreased their price objective on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $977.00.

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.