GSA Capital Partners LLP Makes New $1.12 Million Investment in McKesson Corporation $MCK

GSA Capital Partners LLP acquired a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 1,483 shares of the company’s stock, valued at approximately $1,121,000.

Several other large investors have also made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson in the fourth quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in McKesson during the fourth quarter worth about $26,000. State of Wyoming acquired a new stake in McKesson during the second quarter worth about $29,000. Kingdom Financial Group LLC. purchased a new position in shares of McKesson in the 4th quarter worth about $33,000. Finally, Birchwood Financial Partners Inc. purchased a new position in shares of McKesson in the 4th quarter worth about $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

McKesson stock opened at $861.59 on Tuesday. The firm has a market capitalization of $100.45 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. McKesson Corporation has a one year low of $667.50 and a one year high of $999.00. The stock’s 50 day moving average price is $815.34 and its 200 day moving average price is $843.12.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s payout ratio is currently 10.06%.

Insider Buying and Selling at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,667,592.36. The trade was a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% 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. In the last 90 days, insiders sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on MCK shares. Barclays decreased their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Citigroup raised their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. William Blair initiated coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Finally, TD Cowen boosted their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price 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.