Portfolio Design Labs LLC Purchases New Shares in McKesson Corporation $MCK

Portfolio Design Labs LLC purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,606 shares of the company’s stock, valued at approximately $1,969,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MCK. Vanguard Group Inc. grew its position in shares of McKesson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after purchasing an additional 73,109 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of McKesson in the second quarter valued at approximately $8,156,743,000. State Street Corp boosted its stake in shares of McKesson by 0.5% in the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after buying an additional 29,660 shares during the period. Geode Capital Management LLC boosted its stake in shares of McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after buying an additional 25,082 shares during the period. Finally, Franklin Resources Inc. grew its position in McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after buying an additional 144,633 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction that occurred 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 directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This represents a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 29,049 shares of company stock worth $22,530,626. Company insiders own 0.06% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $841.21 on Friday. McKesson Corporation has a fifty-two week low of $673.38 and a fifty-two week high of $999.00. The firm has a market capitalization of $98.08 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.68 and a beta of 0.30. The company’s 50 day moving average price is $819.40 and its two-hundred day moving average price is $843.73.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) 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 company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the prior year, the business earned $8.26 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts expect that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a 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 currently 10.06%.

Analysts Set New Price Targets

A number of research firms have commented on MCK. Robert W. Baird set a $1,015.00 price objective on McKesson in a research note on Thursday, August 6th. Citigroup upped their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Wells Fargo & Company raised their price target on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Finally, TD Cowen upped their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $973.44.

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.