McKesson Corporation $MCK Stock Sold by Valley National Advisers Inc.

Valley National Advisers Inc. reduced its position in shares of McKesson Corporation (NYSE:MCK) by 20.7% in the third quarter, HoldingsChannel reports. The firm owned 2,497 shares of the company’s stock after selling 650 shares during the quarter. Valley National Advisers Inc.’s holdings in McKesson were worth $2,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Citizens Financial Group Inc. RI grew its position in McKesson by 30.0% during the third quarter. Citizens Financial Group Inc. RI now owns 4,038 shares of the company’s stock valued at $3,452,000 after buying an additional 931 shares during the period. Anderson Hoagland & Co. purchased a new stake in McKesson during the third quarter valued at approximately $231,000. Simplicity Wealth LLC raised its position in McKesson by 9.2% in the third quarter. Simplicity Wealth LLC now owns 1,965 shares of the company’s stock worth $1,678,000 after acquiring an additional 165 shares during the period. Sowell Financial Services LLC raised its position in McKesson by 1.2% in the third quarter. Sowell Financial Services LLC now owns 1,319 shares of the company’s stock worth $1,126,000 after acquiring an additional 16 shares during the period. Finally, Kendall Capital Management raised its position in McKesson by 0.8% in the third quarter. Kendall Capital Management now owns 3,570 shares of the company’s stock worth $3,048,000 after acquiring an additional 30 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MCK. Leerink Partners lifted their price target on shares of McKesson from $1,030.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 7th. Wells Fargo & Company boosted their price objective 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. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Argus raised their target price on McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Finally, Robert W. Baird set a $1,015.00 target price on McKesson in a report on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $997.12.

McKesson Stock Down 1.2%

MCK stock opened at $1,000.53 on Friday. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,030.27. The stock has a market cap of $116.65 billion, a P/E ratio of 26.77, a PEG ratio of 1.99 and a beta of 0.30. The business’s 50-day moving average price is $911.33 and its 200-day moving average price is $842.38.

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. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate 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 was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Francisco Fraga sold 800 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $995.80, for a total value of $796,640.00. Following the completion of the transaction, the executive vice president directly owned 5,423 shares in the company, valued at $5,400,223.40. This represents a 12.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the 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 disclosure for this sale is available in the SEC filing. Insiders have sold 1,212 shares of company stock valued at $1,164,182 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

McKesson 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.