Gray Private Wealth LLC Purchases 720 Shares of McKesson Corporation $MCK

Gray Private Wealth LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 720 shares of the company’s stock, valued at approximately $615,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. Nvwm LLC raised its stake in shares of McKesson by 933.3% in the third quarter. Nvwm LLC now owns 31 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in McKesson in the second quarter valued at about $27,000. Trellis Wealth Advisors LLC acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $32,000. GK Wealth Management LLC acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $38,000. Finally, Curry Webb Wealth Management LLC bought a new position in McKesson in the third quarter valued at approximately $38,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 1.4%

Shares of NYSE:MCK opened at $994.77 on Friday. The business has a 50 day moving average of $922.54 and a 200-day moving average of $862.89. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,030.27. The stock has a market cap of $115.98 billion, a PE ratio of 26.62, a P/E/G ratio of 1.95 and a beta of 0.30.

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. The business 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 revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities research analysts expect that McKesson Corporation will post 44.71 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Activity

In other news, CAO B Jr sold 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer directly owned 521 shares in the company, valued at approximately $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 800 shares of the business’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 sale, the executive vice president owned 5,423 shares of the company’s stock, valued at approximately $5,400,223.40. This trade represents a 12.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,212 shares of company stock worth $1,164,182. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MCK shares. Leerink Partners raised their price target on McKesson from $1,030.00 to $1,070.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 7th. Citigroup increased their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Robert W. Baird set a $1,015.00 target price on McKesson in a report on Thursday, August 6th. TD Cowen raised their target price on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Barclays raised 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. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $997.12.

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.