Meeder Advisory Services Inc. Buys Shares of 4,173 McKesson Corporation $MCK

Meeder Advisory Services Inc. purchased a new stake in McKesson Corporation (NYSE:MCK) in the second quarter, HoldingsChannel reports. The firm purchased 4,173 shares of the company’s stock, valued at approximately $3,153,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. grew its stake in McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after acquiring an additional 11 shares during the last quarter. Investment Research Partners LLC increased its holdings in McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after acquiring an additional 11 shares in the last quarter. IHT Wealth Management LLC raised its position in McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after acquiring an additional 11 shares during the last quarter. LRI Investments LLC raised its position in McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after acquiring an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC lifted its holdings in shares of McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $869.73 on Wednesday. The company has a market cap of $101.40 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. McKesson Corporation has a 12 month low of $667.50 and a 12 month high of $999.00. The company has a 50-day simple moving average of $817.06 and a 200-day simple moving average of $843.43.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts anticipate that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s payout ratio is 8.78%.

Insider Buying and Selling at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MCK. Citigroup raised their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Royal Bank Of Canada initiated coverage on McKesson in a report on Wednesday. They set a “sector perform” rating on the stock. JPMorgan Chase & Co. dropped their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 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 currently has an average rating of “Moderate Buy” and an average target price of $977.00.

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.