Kestra Advisory Services LLC Buys 1,058 Shares of McKesson Corporation $MCK

Kestra Advisory Services LLC grew its stake in shares of McKesson Corporation (NYSE:MCK) by 6.7% in the first quarter, HoldingsChannel.com reports. The firm owned 16,920 shares of the company’s stock after buying an additional 1,058 shares during the quarter. Kestra Advisory Services LLC’s holdings in McKesson were worth $14,642,000 at the end of the most recent quarter.

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

McKesson Stock Up 1.6%

Shares of NYSE:MCK traded up $12.50 during trading on Friday, hitting $805.31. The stock had a trading volume of 491,746 shares, compared to its average volume of 1,122,131. The company has a market capitalization of $94.29 billion, a PE ratio of 20.93, a PEG ratio of 1.33 and a beta of 0.31. The firm’s fifty day moving average is $766.35 and its 200 day moving average is $838.53. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Citigroup cut their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. JPMorgan Chase & Co. reduced their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $960.53.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were 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 of the company’s stock, valued at $482,848. This represents 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. Insiders have sold 28,748 shares of company stock valued at $22,262,035 in the last quarter. 0.06% of the stock is owned by insiders.

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.