9,723 Shares in McKesson Corporation $MCK Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,723 shares of the company’s stock, valued at approximately $7,347,000.

Several other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson during the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in shares of McKesson in the 4th quarter valued at approximately $26,000. State of Wyoming purchased a new stake in shares of McKesson in the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. acquired a new position in McKesson during the fourth quarter worth $33,000. Finally, Birchwood Financial Partners Inc. acquired a new position in McKesson during the fourth quarter worth $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 0.4%

Shares of MCK opened at $862.27 on Monday. The stock has a market cap of $100.53 billion, a P/E ratio of 23.07, a PEG ratio of 1.69 and a beta of 0.30. The company has a 50-day moving average of $820.97 and a two-hundred day moving average of $843.84. McKesson Corporation has a 12-month low of $673.38 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $103.88 billion. During the same quarter in the prior year, the firm earned $8.26 EPS. McKesson’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. As a group, analysts forecast that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

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

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction on 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 approximately $4,697,081.64. This represents a 58.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the sale, the executive vice president owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MCK shares. Citigroup raised their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. JPMorgan Chase & Co. lowered their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Royal Bank Of Canada began coverage on shares of McKesson in a report on Wednesday. They issued a “sector perform” rating and a $845.00 price target for the company. TD Cowen boosted 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. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average 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.