Manning & Napier Advisors LLC Takes Position in McKesson Corporation $MCK

Manning & Napier Advisors LLC acquired a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel reports. The firm acquired 29,842 shares of the company’s stock, valued at approximately $22,549,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares during the period. Caxton Associates LLP acquired a new stake in McKesson in the 1st quarter valued at about $233,000. Sivia Capital Partners LLC lifted its holdings in McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after acquiring an additional 300 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of McKesson by 0.9% during the 2nd 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 in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of McKesson in the 2nd quarter worth approximately $166,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on MCK shares. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. UBS Group lifted their target price on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Finally, Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $973.44.

McKesson Price Performance

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

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

McKesson Increases Dividend

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

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s 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 completion of the transaction, 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. 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 sold 23,111 shares of company stock valued at $18,011,274. 0.06% of the stock is owned by 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.