Sanctuary Advisors LLC Makes New Investment in McKesson Corporation $MCK

Sanctuary Advisors LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 32,044 shares of the company’s stock, valued at approximately $24,212,000.

Several other hedge funds also recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. bought a new stake in shares of McKesson during the fourth quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in McKesson in the fourth quarter valued at approximately $26,000. State of Wyoming bought a new position in McKesson in the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. bought a new position in McKesson in the fourth quarter valued at approximately $33,000. Finally, Birchwood Financial Partners Inc. acquired a new stake in McKesson during the 4th quarter worth $33,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MCK shares. Royal Bank Of Canada initiated coverage on McKesson in a research note on Wednesday. They issued a “sector perform” rating and a $845.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. TD Cowen increased their target price on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Barclays boosted their target price on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

McKesson Stock Performance

MCK opened at $862.27 on Monday. McKesson Corporation has a fifty-two week low of $673.38 and a fifty-two week high of $999.00. The company has a market capitalization of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30. The stock has a fifty day moving average of $820.97 and a 200-day moving average of $843.84.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the prior year, the company posted $8.26 earnings per share. McKesson’s 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. On average, equities research analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm 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 $0.94 dividend. 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%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is presently 10.06%.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’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 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 trade represents a 43.59% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. 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 firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. 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 worth $22,530,626. Insiders own 0.06% of the company’s stock.

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.