NorthRock Partners LLC Raises Stake in McKesson Corporation $MCK

NorthRock Partners LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 55.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,053 shares of the company’s stock after buying an additional 1,090 shares during the quarter. NorthRock Partners LLC’s holdings in McKesson were worth $2,307,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Secure Asset Management LLC increased its stake in shares of McKesson by 484.8% in the second quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock worth $1,604,000 after purchasing an additional 1,760 shares in the last quarter. Summit Global Investments bought a new position in McKesson in the 2nd quarter worth approximately $1,159,000. One Wealth Advisors LLC bought a new position in McKesson in the 2nd quarter worth approximately $1,494,000. Walter Public Investments Inc. purchased a new position in McKesson in the 4th quarter valued at approximately $6,538,000. Finally, Royal London Asset Management Ltd. raised its holdings in McKesson by 1.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock valued at $84,809,000 after acquiring an additional 1,216 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $894.38 on Thursday. The company has a 50 day simple moving average of $856.40 and a two-hundred day simple moving average of $841.46. The firm has a market cap of $104.28 billion, a PE ratio of 23.93, a PEG ratio of 1.77 and a beta of 0.30. McKesson Corporation has a 1 year low of $687.68 and a 1 year high of $999.00.

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

McKesson Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,227 shares of company stock worth $13,544,415 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCK. Wells Fargo & Company increased their target price on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. UBS Group boosted their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Royal Bank Of Canada began coverage on McKesson in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 target price for the company. Finally, Citigroup upped their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $973.44.

McKesson Company Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.