51,413 Shares in McKesson Corporation $MCK Bought by Empowered Funds LLC

Empowered Funds LLC purchased a new position in McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel reports. The fund purchased 51,413 shares of the company’s stock, valued at approximately $38,848,000.

Several other institutional investors and hedge funds have also bought and sold shares of MCK. BlackRock Inc. bought a new position in shares of McKesson during the 2nd quarter worth $8,156,743,000. Norges Bank purchased a new position in McKesson during the fourth quarter valued at approximately $1,651,137,000. Bank of America Corp DE bought a new position in shares of McKesson in the second quarter worth $998,896,000. Legal & General Group Plc bought a new position in McKesson in the 2nd quarter worth about $656,566,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in McKesson in the second quarter valued at approximately $651,462,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Down 0.7%

Shares of MCK stock opened at $890.20 on Friday. The firm has a market capitalization of $103.79 billion, a PE ratio of 23.82, a P/E/G ratio of 1.76 and a beta of 0.30. The company has a 50 day moving average price of $830.40 and a 200-day moving average price of $843.76. McKesson Corporation has a 52 week low of $677.28 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The company 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%.McKesson’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts anticipate 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 paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis 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 (DPR) is 8.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their price target on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. UBS Group upped their price target on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada assumed coverage on McKesson in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price objective for the company. TD Cowen boosted their price target on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Activity

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% 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. Insiders have sold 23,111 shares of company stock valued at $18,011,274 over the last 90 days. Company insiders own 0.06% of the company’s stock.

McKesson Company 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.