Uniting Wealth Partners LLC Invests $509,000 in McKesson Corporation $MCK

Uniting Wealth Partners LLC purchased a new stake in McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 673 shares of the company’s stock, valued at approximately $509,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after buying an additional 73,109 shares in the last quarter. State Street Corp increased its stake in shares of McKesson by 0.5% in the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after acquiring an additional 29,660 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of McKesson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after acquiring an additional 25,082 shares during the period. Franklin Resources Inc. boosted its position in shares of McKesson by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after acquiring an additional 144,633 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of McKesson in the fourth quarter valued at about $1,651,137,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% 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. In the last ninety days, insiders have sold 29,049 shares of company stock valued at $22,530,626. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. JPMorgan Chase & Co. dropped their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They set an “outperform” rating for the company. Weiss Ratings lowered shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, Citigroup upped their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $977.00.

McKesson Trading Down 0.0%

MCK opened at $868.72 on Monday. The stock’s 50-day moving average price is $813.45 and its 200 day moving average price is $842.94. McKesson Corporation has a 12-month low of $667.50 and a 12-month high of $999.00. The firm has a market cap of $101.28 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.McKesson’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. 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 presently 8.78%.

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.