McKesson Corporation $MCK Shares Sold by RFG Advisory LLC

RFG Advisory LLC lessened its holdings in McKesson Corporation (NYSE:MCK) by 32.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,547 shares of the company’s stock after selling 756 shares during the quarter. RFG Advisory LLC’s holdings in McKesson were worth $1,169,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares in the last quarter. Caxton Associates LLP purchased a new stake in McKesson in the first quarter valued at approximately $233,000. Sivia Capital Partners LLC raised its position in McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after buying an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in McKesson during the 2nd quarter valued at approximately $166,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. UBS Group raised their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wells Fargo & Company lifted their target price on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. TD Cowen lifted their price target on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. 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 four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $973.44.

McKesson Stock Down 0.0%

Shares of NYSE:MCK opened at $880.51 on Friday. The company has a market cap of $102.66 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.75 and a beta of 0.30. The business has a fifty day simple moving average of $860.19 and a 200-day simple moving average of $841.27. McKesson Corporation has a 52 week low of $687.68 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last released its 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 for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

Insider Buying and Selling

In other McKesson news, CEO Brian Tyler sold 8,463 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of McKesson 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 17,338 shares of company stock valued at $13,643,366. Insiders own 0.06% of the company’s stock.

McKesson Company Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.