HBK Sorce Advisory LLC Takes Position in McKesson Corporation $MCK

HBK Sorce Advisory LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,219 shares of the company’s stock, valued at approximately $1,069,000.

Other large investors have also modified their holdings of the company. Peachtree Investment Partners LLC acquired a new stake in shares of McKesson during the second quarter worth $8,563,000. J.Safra Asset Management Corp purchased a new position in McKesson during the 2nd quarter worth $206,000. Flputnam Investment Management Co. purchased a new position in McKesson during the 2nd quarter worth $35,411,000. Global Retirement Partners LLC acquired a new stake in shares of McKesson in the 2nd quarter worth $3,032,000. Finally, 1ST Source Bank acquired a new stake in shares of McKesson in the 2nd quarter worth $285,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of McKesson 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,049 shares of company stock valued at $22,530,626. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. William Blair initiated coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Robert W. Baird set a $1,015.00 target price on McKesson in a research report on Thursday, August 6th. Citigroup increased their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. decreased their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $977.00.

McKesson Trading Down 0.0%

MCK stock opened at $868.72 on Monday. The firm has a 50 day moving average of $813.45 and a 200-day moving average of $842.94. The company has a market cap of $101.28 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.71 and a beta of 0.30. McKesson Corporation has a 12-month low of $667.50 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the prior year, the firm posted $8.26 EPS. The company’s 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. Sell-side 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. Shareholders of record on Tuesday, September 1st will be issued a $0.94 dividend. 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 is currently 8.78%.

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.