647 Shares in McKesson Corporation $MCK Purchased by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp purchased a new stake in shares of McKesson Corporation (NYSE:MCK) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 647 shares of the company’s stock, valued at approximately $489,000.

Several other hedge funds have also bought and sold shares of the business. Horizon Investments LLC boosted its position in shares of McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after purchasing an additional 4,828 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in McKesson by 62.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock valued at $2,590,000 after buying an additional 1,219 shares in the last quarter. Walter Public Investments Inc. bought a new position in McKesson during the 4th quarter valued at approximately $6,538,000. Artemis Investment Management LLP raised its stake in McKesson by 149.9% during the fourth quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock valued at $9,574,000 after buying an additional 7,000 shares during the last quarter. Finally, North Dakota State Investment Board purchased a new position in McKesson during the fourth quarter valued at $3,969,000. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction that occurred on 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 directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. 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, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. Insiders have sold 29,049 shares of company stock worth $22,530,626 in the last quarter. Insiders own 0.06% of the company’s stock.

McKesson Trading Down 0.9%

Shares of MCK opened at $861.59 on Tuesday. The company has a market cap of $100.45 billion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 1.71 and a beta of 0.30. The business’s fifty day simple moving average is $815.34 and its two-hundred day simple moving average is $843.12. McKesson Corporation has a 12 month low of $667.50 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings results 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. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts forecast that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date is 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%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCK. Barclays cut their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Wells Fargo & Company increased their price objective on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Finally, William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $977.00.

About McKesson

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.