Ieq Capital LLC Purchases Shares of 20,166 McKesson Corporation $MCK

Ieq Capital LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,166 shares of the company’s stock, valued at approximately $15,237,000.

Other large investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. bought a new position in McKesson in the 4th quarter valued at about $26,000. State of Wyoming bought a new position in McKesson in the 2nd quarter valued at about $29,000. Kingdom Financial Group LLC. acquired a new position in McKesson during the 4th quarter valued at about $33,000. Finally, Birchwood Financial Partners Inc. purchased a new position in shares of McKesson during the fourth quarter valued at approximately $33,000. 85.07% of the stock is owned by institutional investors.

Insider Transactions at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. This trade represents a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $862.27 on Friday. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00. The business’s fifty day moving average price is $820.97 and its 200-day moving average price is $843.86. The stock has a market capitalization of $100.53 billion, a PE ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30.

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. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the prior year, the company earned $8.26 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is 8.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MCK shares. JPMorgan Chase & Co. reduced their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Wells Fargo & Company raised their target price on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. TD Cowen lifted their target price on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada started coverage on shares of McKesson in a report on Wednesday. They issued a “sector perform” rating and a $845.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $973.44.

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.