Moneco Advisors LLC Invests $2.72 Million in McKesson Corporation $MCK

Moneco Advisors LLC acquired a new position in McKesson Corporation (NYSE:MCK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,314 shares of the company’s stock, valued at approximately $2,719,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GGM Financials LLC purchased a new stake in shares of McKesson in the third quarter worth $25,000. State of Wyoming purchased a new stake in shares of McKesson in the second quarter worth $29,000. Hopwood Financial Services Inc. purchased a new position in McKesson during the third quarter valued at $31,000. Vermillion & White Wealth Management Group LLC purchased a new position in McKesson during the third quarter valued at $33,000. Finally, Board of the Pension Protection Fund purchased a new position in McKesson during the fourth quarter valued at $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $966.00 target price on shares of McKesson in a research note on Thursday, January 29th. JPMorgan Chase & Co. cut their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Barclays raised their target price on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, William Blair initiated coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $963.20.

Insider Transactions at McKesson

In other news, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total value of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $3,214,530. The trade was a 45.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 190 shares of McKesson stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $945.00, for a total transaction of $179,550.00. Following the completion of the transaction, the executive vice president directly owned 2,989 shares in the company, valued at approximately $2,824,605. The trade was a 5.98% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 3,264 shares of company stock valued at $3,205,315. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.3%

McKesson stock opened at $736.60 on Thursday. The firm has a 50-day moving average price of $864.13 and a 200-day moving average price of $858.29. The firm has a market capitalization of $88.54 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.10 and a beta of 0.35. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter last year, the business earned $10.12 EPS. The business’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts predict that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.

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.