Tiemann Investment Advisors LLC Acquires New Holdings in McKesson Corporation $MCK

Tiemann Investment Advisors LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 648 shares of the company’s stock, valued at approximately $490,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson in the fourth quarter valued at about $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson during the 4th quarter worth approximately $26,000. State of Wyoming acquired a new position in shares of McKesson during the 2nd quarter worth approximately $29,000. Kingdom Financial Group LLC. acquired a new position in shares of McKesson during the 4th quarter worth approximately $33,000. Finally, Birchwood Financial Partners Inc. purchased a new stake in McKesson in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays lowered their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. TD Cowen boosted their price target on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Finally, Robert W. Baird set a $1,015.00 price objective on McKesson in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $977.00.

Insiders Place Their Bets

In other McKesson news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their position. The sale 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 dated 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 sale, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of MCK opened at $861.59 on Tuesday. McKesson Corporation has a 1 year low of $667.50 and a 1 year high of $999.00. The company’s 50 day simple moving average is $815.34 and its 200 day simple moving average is $843.12. The company has a market capitalization of $100.45 billion, a price-to-earnings ratio of 23.06, 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 EPS for the quarter, topping the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal 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 given a $0.94 dividend. This is an increase 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 dividend payout ratio (DPR) is presently 10.06%.

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.