2,805 Shares in McKesson Corporation $MCK Bought by Peak Asset Management LLC

Peak Asset Management LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,805 shares of the company’s stock, valued at approximately $2,119,000.

A number of other large investors have also made changes to their positions in the stock. Horizon Investments LLC increased its holdings in McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock valued at $7,119,000 after buying an additional 4,828 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of McKesson by 62.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock valued at $2,590,000 after purchasing an additional 1,219 shares during the period. Walter Public Investments Inc. bought a new position in shares of McKesson during the 4th quarter worth approximately $6,538,000. One Wealth Advisors LLC acquired a new stake in McKesson in the 2nd quarter valued at $1,494,000. Finally, Artemis Investment Management LLP grew its position in McKesson by 149.9% in the fourth quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock valued at $9,574,000 after acquiring an additional 7,000 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s 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 completion of the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% 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. Over the last ninety days, insiders have sold 23,111 shares of company stock worth $18,011,274. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MCK. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Finally, William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. 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.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

McKesson Stock Performance

Shares of MCK stock opened at $874.20 on Tuesday. The firm’s 50 day moving average price is $822.86 and its two-hundred day moving average price is $844.00. McKesson Corporation has a 52-week low of $673.38 and a 52-week high of $999.00. The stock has a market cap of $101.92 billion, a PE ratio of 23.39, a PEG ratio of 1.69 and a beta of 0.30.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping 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 business had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same period last year, the company earned $8.26 EPS. The firm’s 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, sell-side analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid 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 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is presently 8.78%.

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.