Patron Partners LLC Makes New $504,000 Investment in McKesson Corporation $MCK

Patron Partners LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 667 shares of the company’s stock, valued at approximately $504,000.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MCK shares. William Blair initiated coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. JPMorgan Chase & Co. lowered their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Morgan Stanley reissued an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Finally, Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $973.44.

McKesson Trading Up 2.8%

McKesson stock opened at $862.27 on Friday. The firm has a 50-day moving average of $820.97 and a 200-day moving average of $843.86. The firm has a market cap of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.65 and a beta of 0.30. McKesson Corporation has a 1-year low of $673.38 and a 1-year high of $999.00.

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 analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion for 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%.McKesson’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 8.78%.

Insider Activity

In related news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction 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 trade represents a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is owned by insiders.

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.