Sanctuary Advisors LLC Buys New Holdings in McKesson Corporation $MCK

Sanctuary Advisors LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 32,044 shares of the company’s stock, valued at approximately $24,212,000.

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

McKesson Stock Performance

Shares of MCK stock opened at $862.27 on Monday. McKesson Corporation has a 52 week low of $673.38 and a 52 week high of $999.00. The stock has a market capitalization of $100.53 billion, a PE ratio of 23.07, a PEG ratio of 1.69 and a beta of 0.30. The stock’s fifty day moving average is $820.97 and its 200-day moving average is $843.84.

McKesson (NYSE:MCK) last released its quarterly earnings results 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. The business 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 for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. This is a positive change 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%. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

Insider Activity at McKesson

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. The trade was a 43.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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. Also, CEO Brian S. Tyler sold 8,463 shares of the company’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 transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents 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. Insiders sold 29,049 shares of company stock valued at $22,530,626 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCK has been the topic of several recent analyst reports. Barclays boosted their target price on shares of McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Wells Fargo & Company boosted their price target on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. decreased their price objective on shares of 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. Finally, TD Cowen lifted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $973.44.

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.