Empowered Funds LLC Invests $38.85 Million in McKesson Corporation $MCK

Empowered Funds LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 51,413 shares of the company’s stock, valued at approximately $38,848,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the period. Caxton Associates LLP bought a new position in shares of McKesson in the first quarter valued at about $233,000. Sivia Capital Partners LLC increased its position in McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after acquiring an additional 300 shares in the last quarter. Treasurer of the State of North Carolina raised its position in McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in McKesson during the 2nd quarter worth about $166,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, 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. In the last ninety days, insiders sold 23,111 shares of company stock worth $18,011,274. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of several analyst reports. Wells Fargo & Company increased their target price on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lowered their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Evercore reiterated an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Barclays upped their price objective on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $973.44.

McKesson Stock Performance

NYSE:MCK opened at $890.20 on Friday. The stock has a fifty day moving average price of $830.40 and a 200-day moving average price of $843.76. McKesson Corporation has a fifty-two week low of $677.28 and a fifty-two week high of $999.00. The company has a market cap of $103.79 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.76 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts predict that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is currently 8.78%.

McKesson Company 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.