1,260 Shares in McKesson Corporation $MCK Acquired by Maridea Wealth Management LLC

Maridea Wealth Management LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,260 shares of the company’s stock, valued at approximately $952,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in McKesson in the 4th quarter worth $1,651,137,000. Swedbank AB grew its position in shares of McKesson by 42.2% in the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after purchasing an additional 263,189 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of McKesson by 4,300.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 214,693 shares of the company’s stock worth $185,787,000 after purchasing an additional 209,814 shares during the period. SurgoCap Partners LP increased its stake in shares of McKesson by 68.7% in the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after purchasing an additional 184,106 shares during the period. Finally, Amundi lifted its position in shares of McKesson by 33.6% during the 1st quarter. Amundi now owns 623,749 shares of the company’s stock worth $539,767,000 after purchasing an additional 156,819 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on MCK. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. TD Cowen upped their price target on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup increased their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. lowered their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $977.00.

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 on Tuesday, July 7th. The shares were 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 owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. 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 sold a total of 29,049 shares of company stock valued at $22,530,626 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

NYSE MCK opened at $868.72 on Friday. McKesson Corporation has a twelve month low of $667.50 and a twelve month high of $999.00. The stock has a market cap of $101.28 billion, a PE ratio of 23.25, a PEG ratio of 1.71 and a beta of 0.30. The firm has a 50-day simple moving average of $813.45 and a 200 day simple moving average of $842.81.

McKesson (NYSE:MCK) last issued its quarterly 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. The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is 8.78%.

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.