North Star Asset Management Inc. Invests $3.38 Million in McKesson Corporation $MCK

North Star Asset Management Inc. bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel reports. The fund bought 4,478 shares of the company’s stock, valued at approximately $3,384,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson in the 4th quarter worth $25,000. Swiss RE Ltd. acquired a new position in McKesson in the 4th quarter valued at $26,000. Delos Wealth Advisors LLC purchased a new position in shares of McKesson in the second quarter worth about $27,000. State of Wyoming purchased a new position in McKesson in the 2nd quarter worth approximately $29,000. Finally, Kingdom Financial Group LLC. purchased a new position in McKesson during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,111 shares of company stock worth $18,011,274. 0.06% of the stock is owned by company insiders.

McKesson Trading Down 0.7%

Shares of MCK stock opened at $890.20 on Friday. The firm has a fifty day moving average price of $830.40 and a 200 day moving average price of $843.76. The company has a market cap of $103.79 billion, a P/E ratio of 23.82, a PEG ratio of 1.76 and a beta of 0.30. McKesson Corporation has a 12 month low of $677.28 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the prior year, the company posted $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, equities analysts forecast that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 8.78%.

Analyst Ratings Changes

MCK has been the topic of a number of analyst reports. TD Cowen lifted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. UBS Group lifted their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada initiated coverage on McKesson in a research report on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 target price for the company. Finally, Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $973.44.

McKesson 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.