McKesson Corporation $MCK Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its position in shares of McKesson Corporation (NYSE:MCK) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 84,998 shares of the company’s stock after selling 1,897 shares during the period. HighTower Advisors LLC’s holdings in McKesson were worth $64,225,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in McKesson in the 4th quarter worth about $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson during the fourth quarter valued at approximately $26,000. Delos Wealth Advisors LLC acquired a new position in shares of McKesson during the second quarter worth approximately $27,000. State of Wyoming bought a new position in McKesson in the 2nd quarter worth approximately $29,000. Finally, Kingdom Financial Group LLC. bought a new position in McKesson in the 4th quarter worth approximately $33,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction dated 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, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, 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 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 17,227 shares of company stock valued at $13,544,415 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on MCK. UBS Group lifted their target price on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Robert W. Baird set a $1,015.00 price target on McKesson in a report on Thursday, August 6th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, TD Cowen upped their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

McKesson Price Performance

NYSE MCK opened at $907.35 on Tuesday. McKesson Corporation has a 12 month low of $682.35 and a 12 month high of $999.00. The firm has a market capitalization of $105.79 billion, a PE ratio of 24.28, a P/E/G ratio of 1.81 and a beta of 0.30. The company’s 50 day simple moving average is $851.29 and its 200 day simple moving average is $842.17.

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

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s payout ratio is currently 10.06%.

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.