Fulcrum Wealth Advisors LLC Sells 1,267 Shares of McKesson Corporation $MCK

Fulcrum Wealth Advisors LLC cut its position in shares of McKesson Corporation (NYSE:MCK) by 32.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,666 shares of the company’s stock after selling 1,267 shares during the period. McKesson accounts for about 1.5% of Fulcrum Wealth Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Fulcrum Wealth Advisors LLC’s holdings in McKesson were worth $2,276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton raised its holdings in McKesson by 2.8% in the third quarter. Rosenberg Matthew Hamilton now owns 406 shares of the company’s stock worth $347,000 after purchasing an additional 11 shares in the last quarter. Avail Investment Partners LLC lifted its position in McKesson by 1.7% during the third quarter. Avail Investment Partners LLC now owns 662 shares of the company’s stock valued at $566,000 after buying an additional 11 shares during the period. Anchyra Partners LLC boosted its holdings in shares of McKesson by 1.0% during the 1st quarter. Anchyra Partners LLC now owns 1,174 shares of the company’s stock valued at $1,016,000 after buying an additional 12 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in shares of McKesson by 7.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 172 shares of the company’s stock valued at $149,000 after buying an additional 12 shares in the last quarter. Finally, SMART Wealth LLC boosted its holdings in shares of McKesson by 3.4% during the 1st quarter. SMART Wealth LLC now owns 366 shares of the company’s stock valued at $317,000 after buying an additional 12 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 0.7%

McKesson stock opened at $1,005.39 on Friday. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,014.99. The company has a market capitalization of $117.22 billion, a P/E ratio of 26.90, a PEG ratio of 2.00 and a beta of 0.30. The stock’s 50 day moving average is $897.66 and its 200 day moving average is $837.50.

McKesson (NYSE:MCK) last announced 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 negative return on equity of 253.21% and a net margin of 1.12%. The business had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the previous year, the business earned $8.26 earnings per share. The firm’s quarterly revenue 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 expect that McKesson Corporation will post 44.71 EPS for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were paid a $0.94 dividend. This is an increase 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 of this dividend was Tuesday, September 1st. McKesson’s payout ratio is currently 10.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MCK shares. UBS Group upped their target price on shares of McKesson from $1,080.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday. Argus lifted their price target on shares of McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Leerink Partners lifted their price target on shares of McKesson from $1,030.00 to $1,070.00 and gave the company an “outperform” rating in a research report on Wednesday, October 7th. Evercore reissued an “outperform” rating and set a $950.00 price objective (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Finally, Morgan Stanley set a $977.00 price objective on shares of McKesson in a report on Tuesday, October 6th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $990.35.

Insider Buying and Selling at McKesson

In other news, Director Bradley Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO B Jr sold 111 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares in the company, valued at approximately $464,445.45. The trade was a 17.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.06% of the stock is owned by company insiders.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.