Csenge Advisory Group Invests $553,000 in McKesson Corporation $MCK

Csenge Advisory Group acquired a new stake in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 732 shares of the company’s stock, valued at approximately $553,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in shares of McKesson during the 2nd quarter worth approximately $201,000. Tocqueville Asset Management L.P. bought a new position in shares of McKesson in the second quarter valued at about $2,127,000. Addison Advisors LLC bought a new position in McKesson in the 2nd quarter valued at about $75,000. West Family Investments Inc. bought a new position in shares of McKesson during the second quarter worth approximately $783,000. Finally, Tacita Capital Inc bought a new position in McKesson during the 2nd quarter worth $91,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction that occurred on Monday, August 10th. The shares were 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 the SEC website. Also, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is owned by company insiders.

McKesson Stock Performance

MCK opened at $841.21 on Friday. McKesson Corporation has a 52-week low of $673.38 and a 52-week high of $999.00. The firm has a market cap of $98.08 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 1.68 and a beta of 0.30. The business’s fifty day moving average is $819.40 and its 200-day moving average is $843.73.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS 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 during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the previous year, the firm earned $8.26 earnings per share. McKesson’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced 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 represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is presently 10.06%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a report on Thursday, August 6th. Citigroup increased their target price on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company raised their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target 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.