Trajan Wealth LLC Invests $8.76 Million in McKesson Corporation $MCK

Trajan Wealth LLC acquired a new position in McKesson Corporation (NYSE:MCK) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 11,589 shares of the company’s stock, valued at approximately $8,757,000.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in McKesson in the second quarter valued at about $8,156,743,000. Norges Bank bought a new stake in shares of McKesson during the 4th quarter valued at about $1,651,137,000. Bank of New York Mellon Corp purchased a new stake in shares of McKesson during the 2nd quarter valued at about $599,060,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of McKesson during the 2nd quarter valued at about $495,737,000. Finally, Deutsche Bank AG bought a new position in shares of McKesson in the 2nd quarter worth approximately $337,316,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction dated 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 transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were 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 of the company’s stock, valued at approximately $1,667,592.36. The trade was a 23.56% 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. Insiders have sold a total of 23,111 shares of company stock worth $18,011,274 in the last three months. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MCK shares. TD Cowen raised 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. Wells Fargo & Company upped their target price on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Royal Bank Of Canada initiated coverage on shares of McKesson in a research note on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $973.44.

McKesson Stock Up 1.8%

NYSE MCK opened at $874.20 on Tuesday. McKesson Corporation has a twelve month low of $673.38 and a twelve month high of $999.00. The business has a 50-day moving average price of $822.86 and a 200-day moving average price of $844.00. The firm has a market cap of $101.92 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating 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 company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter last year, the company earned $8.26 EPS. The firm’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. Research analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced 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 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%.

McKesson Company 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.