Empirical Asset Management LLC Makes New Investment in McKesson Corporation $MCK

Empirical Asset Management LLC purchased a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 998 shares of the company’s stock, valued at approximately $754,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. Great Lakes Advisors LLC bought a new stake in shares of McKesson during the second quarter worth $30,747,000. BOK Financial Private Wealth Inc. bought a new stake in McKesson in the 2nd quarter valued at $161,000. Act Two Investors LLC bought a new stake in McKesson in the 2nd quarter valued at $6,740,000. Danica Pension Livsforsikringsaktieselskab acquired a new position in McKesson in the 2nd quarter worth $48,771,000. Finally, Danske Bank A S acquired a new position in McKesson in the 2nd quarter worth $128,291,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 1.1%

Shares of MCK opened at $869.73 on Wednesday. The company’s fifty day simple moving average is $817.06 and its 200 day simple moving average is $843.43. McKesson Corporation has a 1-year low of $667.50 and a 1-year high of $999.00. The company has a market cap of $101.40 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter last year, the company posted $8.26 earnings per share. The company’s revenue for the quarter 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, research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. 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 yield of 0.4%. McKesson’s dividend payout ratio is 8.78%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’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 value of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% 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. Insiders have sold a total of 29,049 shares of company stock valued at $22,530,626 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Wells Fargo & Company upped their price objective on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. TD Cowen increased their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. UBS Group lifted their target price on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. cut their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $977.00.

About McKesson

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.