Payne Capital Management LLC Invests $536,000 in McKesson Corporation $MCK

Payne Capital Management LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 710 shares of the company’s stock, valued at approximately $536,000.

Several other hedge funds have also recently bought and sold shares of MCK. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson in the 4th quarter valued at about $25,000. Swiss RE Ltd. purchased a new position in McKesson during the fourth quarter valued at approximately $26,000. Delos Wealth Advisors LLC purchased a new position in McKesson during the second quarter valued at approximately $27,000. State of Wyoming purchased a new stake in McKesson in the 2nd quarter worth approximately $29,000. Finally, Kingdom Financial Group LLC. purchased a new stake in McKesson in the 4th quarter worth approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of NYSE:MCK opened at $898.06 on Thursday. The stock has a market capitalization of $104.70 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.78 and a beta of 0.30. The business has a 50-day moving average of $827.60 and a two-hundred day moving average of $844.17. McKesson Corporation has a fifty-two week low of $677.28 and a fifty-two week high of $999.00.

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

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is 10.06%.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% 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. Insiders have sold a total of 23,111 shares of company stock valued at $18,011,274 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson’s agreement to acquire Precision Medicine Group would expand its clinical research and drug-commercialization capabilities. Management expects the business to complement its oncology operations and create additional growth opportunities in specialty pharmaceuticals. Reuters: McKesson to buy Precision Medicine Group
• Positive Sentiment: Short interest in McKesson fell 33% to about 2.42 million shares as of August 14, representing just 2.1% of shares outstanding and 2.2 days of average trading volume. The reduction suggests less bearish positioning and may provide technical support for the stock.
• Positive Sentiment: Analyst commentary remains constructive on McKesson’s specialty distribution, oncology and technology businesses. The company’s latest reported quarter also exceeded earnings and revenue expectations, supporting the view that its core operations remain resilient. Zacks: Why retain McKesson stock
• Neutral Sentiment: McKesson Ventures’ latest report highlighted artificial intelligence, enterprise demand and investor confidence as major forces reshaping pharmaceutical technology. This could create strategic opportunities, although the report does not announce a specific financial commitment or revenue impact for MCK. McKesson Ventures pharma technology report
• Negative Sentiment: The Precision Medicine transaction comes amid a McKesson reorganization and reported layoffs. Investors may be concerned about restructuring costs, execution risk and whether the acquisition will deliver sufficient returns to offset its $2.25 billion price tag. McKesson acquisition and reorganization
• Negative Sentiment: Longer-term risks remain from drug-pricing pressure and potential healthcare-policy changes. These concerns could limit margins even as McKesson expands into higher-growth specialty and biopharmaceutical services. Zacks McKesson risks

Analyst Ratings Changes

A number of research firms have recently weighed in on MCK. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Wells Fargo & Company boosted 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. JPMorgan Chase & Co. reduced their price target 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. Finally, Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $973.44.

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.