20,166 Shares in McKesson Corporation $MCK Bought by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,166 shares of the company’s stock, valued at approximately $15,237,000.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in McKesson during the 4th quarter worth approximately $26,000. State of Wyoming acquired a new position in shares of McKesson in the 2nd quarter worth approximately $29,000. Kingdom Financial Group LLC. acquired a new position in shares of McKesson in the 4th quarter worth approximately $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of McKesson in the 4th quarter valued at $33,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is currently owned by insiders.

McKesson Stock Up 2.8%

Shares of MCK stock opened at $862.27 on Friday. The firm has a 50 day moving average of $820.97 and a 200-day moving average of $843.86. The company has a market cap of $100.53 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30. 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, beating analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts anticipate 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. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is a boost 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 dividend yield of 0.4%. McKesson’s payout ratio is currently 8.78%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MCK shares. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. TD Cowen upped their price target on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. UBS Group increased their price target on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Morgan Stanley reissued an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $973.44.

McKesson 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.