McKesson Corporation $MCK Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC lifted its position in McKesson Corporation (NYSE:MCK) by 382.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,394 shares of the company’s stock after purchasing an additional 3,483 shares during the quarter. SteelPeak Wealth LLC’s holdings in McKesson were worth $3,755,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MCK. BlackRock Inc. acquired a new stake in McKesson during the 2nd quarter valued at $8,156,743,000. Bank of America Corp DE bought a new position in McKesson in the 2nd quarter valued at $998,896,000. Legal & General Group Plc bought a new position in McKesson in the 2nd quarter valued at $656,566,000. The Manufacturers Life Insurance Company acquired a new position in McKesson in the second quarter worth $651,462,000. Finally, Bank of New York Mellon Corp acquired a new position in McKesson in the second quarter worth $599,060,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

MCK opened at $1,005.39 on Friday. The stock has a market capitalization of $117.22 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 2.00 and a beta of 0.30. The company’s 50 day simple moving average is $897.66 and its 200-day simple moving average is $837.50. McKesson Corporation has a one year low of $723.68 and a one year high of $1,014.99.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the previous year, the company posted $8.26 EPS. McKesson’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, analysts anticipate that McKesson Corporation will post 44.71 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is 10.06%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MCK shares. 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 report on Tuesday, August 11th. Citigroup raised their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $845.00 price target on shares of McKesson in a report on Monday, September 14th. TD Cowen lifted their price target on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $990.35.

Insider Buying and Selling at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the transaction, the chief accounting officer directly owned 521 shares in the company, valued at $464,445.45. This trade represents a 17.56% decrease in their position. 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. 0.06% of the stock is currently owned by company insiders.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.