McKesson Corporation $MCK Shares Sold by Paralel Advisors LLC

Paralel Advisors LLC trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 32.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,670 shares of the company’s stock after selling 1,305 shares during the quarter. Paralel Advisors LLC’s holdings in McKesson were worth $2,017,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MCK. Brighton Jones LLC increased its holdings in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of McKesson in the first quarter valued at about $233,000. Sivia Capital Partners LLC grew its position in shares of McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in shares of McKesson during the 2nd quarter worth approximately $166,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCK. TD Cowen lifted their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Wells Fargo & Company boosted their price target on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Finally, Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $973.44.

McKesson Stock Down 0.1%

NYSE MCK opened at $907.35 on Monday. McKesson Corporation has a fifty-two week low of $682.35 and a fifty-two week high of $999.00. The business has a 50 day moving average price of $848.13 and a two-hundred day moving average price of $842.45. The stock has a market cap of $105.79 billion, a PE ratio of 24.28, a P/E/G ratio of 1.81 and a beta of 0.30.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter last year, the firm posted $8.26 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts anticipate that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

Insider Transactions at McKesson

In other news, Director Bradley Lerman sold 301 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Tyler sold 8,463 shares of McKesson 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 22,156 shares of company stock valued at $17,305,242. 0.06% of the stock is currently owned by corporate insiders.

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.