Hudson Portfolio Management LLC Takes $4.07 Million Position in McKesson Corporation $MCK

Hudson Portfolio Management LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 5,391 shares of the company’s stock, valued at approximately $4,073,000. McKesson makes up 3.1% of Hudson Portfolio Management LLC’s portfolio, making the stock its 6th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its position 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 acquiring an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new position in McKesson in the first quarter worth about $233,000. Sivia Capital Partners LLC boosted its position in McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of McKesson during the 2nd quarter valued at about $166,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% 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. Over the last 90 days, insiders have sold 29,049 shares of company stock valued at $22,530,626. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Citigroup upped their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company raised their price objective on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. UBS Group boosted their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

McKesson Stock Up 2.8%

Shares of McKesson stock opened at $862.27 on Friday. The company has a market capitalization of $100.53 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.69 and a beta of 0.30. The stock’s 50-day simple moving average is $820.97 and its 200-day simple moving average is $843.86. McKesson Corporation has a 52 week low of $673.38 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities analysts expect that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

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

McKesson Company 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.