UNIVEST FINANCIAL Corp Purchases Shares of 647 McKesson Corporation $MCK

UNIVEST FINANCIAL Corp acquired a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 647 shares of the company’s stock, valued at approximately $489,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson during the 4th quarter valued at about $25,000. Swiss RE Ltd. purchased a new position in McKesson in the 4th quarter worth approximately $26,000. State of Wyoming bought a new stake in McKesson in the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. bought a new stake in McKesson in the fourth quarter valued at approximately $33,000. Finally, Birchwood Financial Partners Inc. purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $33,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.9%

Shares of McKesson stock opened at $861.59 on Tuesday. McKesson Corporation has a 12-month low of $667.50 and a 12-month high of $999.00. The company has a market cap of $100.45 billion, a P/E ratio of 23.06, a PEG ratio of 1.71 and a beta of 0.30. The company’s fifty day simple moving average is $815.34 and its two-hundred day simple moving average is $843.12.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 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 company posted $8.26 EPS. The company’s quarterly 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. Analysts predict that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is 10.06%.

Analyst Ratings Changes

MCK has been the topic of several recent analyst reports. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Wells Fargo & Company upped their price target on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Citigroup increased their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. decreased 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. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $977.00.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. This represents a 17.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This represents a 58.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 29,049 shares of company stock worth $22,530,626. Insiders own 0.06% of the company’s stock.

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.