RFG Advisory LLC Sells 756 Shares of McKesson Corporation $MCK

RFG Advisory LLC reduced its stake in McKesson Corporation (NYSE:MCK) by 32.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,547 shares of the company’s stock after selling 756 shares during the period. RFG Advisory LLC’s holdings in McKesson were worth $1,169,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings 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 buying an additional 798 shares in the last quarter. Caxton Associates LLP purchased a new stake in McKesson during the 1st quarter valued at about $233,000. Sivia Capital Partners LLC increased its holdings in McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the period. 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 worth $42,958,000 after buying an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in shares of McKesson during the second quarter worth $166,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Down 0.0%

Shares of MCK stock opened at $880.51 on Friday. McKesson Corporation has a twelve month low of $687.68 and a twelve month high of $999.00. The company’s 50-day moving average price is $860.19 and its 200-day moving average price is $841.27. The stock has a market cap of $102.66 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.75 and a beta of 0.30.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same period last year, the business earned $8.26 earnings per share. McKesson’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, equities research analysts predict 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. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson’s payout ratio is currently 10.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen boosted their price objective on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research note on Thursday, August 6th. Royal Bank Of Canada began coverage on shares of McKesson in a research note on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 price objective for the company. Citigroup increased their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.

Insider Activity at McKesson

In other McKesson news, CEO Brian Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of McKesson stock in a transaction 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 owned 521 shares in the company, valued at $464,445.45. This represents a 17.56% 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. Over the last three months, insiders have sold 17,338 shares of company stock worth $13,643,366. Insiders own 0.06% of the company’s stock.

About McKesson

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.