McKesson Corporation $MCK Shares Newly Bought by MBL Wealth LLC

MBL Wealth LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 683 shares of the company’s stock, valued at approximately $583,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. purchased a new position in McKesson in the second quarter valued at about $8,156,743,000. Bank of America Corp DE increased its holdings in McKesson by 2.4% during the 1st quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock worth $1,331,552,000 after purchasing an additional 35,916 shares during the last quarter. Swedbank AB raised its position in shares of McKesson by 13.5% in the 1st quarter. Swedbank AB now owns 1,005,610 shares of the company’s stock valued at $870,215,000 after purchasing an additional 119,327 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of McKesson by 3.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock valued at $697,096,000 after purchasing an additional 29,747 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of McKesson in the 2nd quarter valued at approximately $656,566,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $845.00 price target on shares of McKesson in a research report on Monday, September 14th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Morgan Stanley set a $977.00 price target on shares of McKesson in a report on Tuesday, October 6th. Weiss Ratings upgraded shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Finally, Bank of America raised their price objective on shares of McKesson from $950.00 to $1,050.00 in a report on Thursday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $997.12.

Insider Activity at McKesson

In other McKesson news, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $995.80, for a total value of $796,640.00. Following the transaction, the executive vice president owned 5,423 shares of the company’s stock, valued at $5,400,223.40. This trade represents a 12.86% decrease in their ownership of the stock. The sale 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 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,212 shares of company stock valued at $1,164,182 in the last quarter. Insiders own 0.06% of the company’s stock.

McKesson Stock Down 1.2%

Shares of NYSE MCK opened at $1,000.53 on Friday. The stock’s 50 day moving average price is $911.33 and its two-hundred day moving average price is $842.38. McKesson Corporation has a 52-week low of $723.68 and a 52-week high of $1,030.27. The stock has a market capitalization of $116.65 billion, a P/E ratio of 26.77, a PEG ratio of 1.99 and a beta of 0.30.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts anticipate that McKesson Corporation will post 44.71 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 1st. McKesson’s dividend payout ratio is currently 10.06%.

McKesson Company Profile

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.