Diversify Advisory Services LLC Takes $972,000 Position in McKesson Corporation $MCK

Diversify Advisory Services LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,143 shares of the company’s stock, valued at approximately $972,000.

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

Insider Buying and Selling

In related news, EVP Michele Lau sold 3,550 shares of McKesson 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 sale, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The shares were 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,049 shares of company stock valued at $22,530,626 over the last three months. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCK. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. UBS Group increased their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Royal Bank Of Canada initiated coverage on shares of McKesson in a research report on Wednesday. They set a “sector perform” rating and a $845.00 price target for the company. Barclays increased their price objective on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Robert W. Baird set a $1,015.00 price objective on McKesson in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $973.44.

McKesson Stock Down 1.8%

MCK opened at $853.53 on Thursday. The business’s fifty day simple moving average is $818.34 and its 200 day simple moving average is $843.66. McKesson Corporation has a 52 week low of $673.38 and a 52 week high of $999.00. The stock has a market cap of $99.51 billion, a PE ratio of 22.84, a P/E/G ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (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 firm had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the previous year, the company earned $8.26 earnings per share. The company’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, equities analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio is currently 8.78%.

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.