Compass Financial Management LLC Acquires Shares of 2,822 McKesson Corporation $MCK

Compass Financial Management LLC bought a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, HoldingsChannel reports. The firm bought 2,822 shares of the company’s stock, valued at approximately $2,341,000.

A number of other hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in McKesson during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in McKesson during the 4th quarter worth approximately $26,000. State of Wyoming acquired a new position in shares of McKesson in the 2nd quarter worth approximately $29,000. Kingdom Financial Group LLC. acquired a new position in shares of McKesson in the 4th quarter worth approximately $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of McKesson in the 4th quarter valued at approximately $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. This represents a 17.39% decrease in their ownership of the stock. 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. Insiders have sold 29,049 shares of company stock valued at $22,530,626 in the last ninety days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several research analyst reports. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Barclays boosted their target price on shares of McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Royal Bank Of Canada began coverage on shares of McKesson in a research report on Wednesday. They issued a “sector perform” rating and a $845.00 price target on the stock. Finally, Wells Fargo & Company lifted 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. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $973.44.

McKesson Price Performance

Shares of NYSE MCK opened at $862.27 on Friday. McKesson Corporation has a 1-year low of $673.38 and a 1-year high of $999.00. The business’s fifty day moving average price is $820.97 and its two-hundred day moving average price is $843.86. The firm has a market capitalization of $100.53 billion, a PE ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) 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 net margin of 1.12% and a negative return on equity of 253.21%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities research analysts expect 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. Shareholders of record on Tuesday, September 1st will be given a $0.94 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is currently 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.