Tidal Investments LLC Has $60.71 Million Stock Position in McKesson Corporation $MCK

Tidal Investments LLC trimmed its holdings in shares of McKesson Corporation (NYSE:MCK) by 7.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,344 shares of the company’s stock after selling 6,531 shares during the period. Tidal Investments LLC’s holdings in McKesson were worth $60,708,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Van Hulzen Asset Management LLC boosted its stake in McKesson by 8.3% during the second quarter. Van Hulzen Asset Management LLC now owns 4,803 shares of the company’s stock worth $3,629,000 after acquiring an additional 369 shares in the last quarter. MCF Advisors LLC grew its stake in shares of McKesson by 19.7% in the 2nd quarter. MCF Advisors LLC now owns 1,258 shares of the company’s stock valued at $951,000 after buying an additional 207 shares during the period. Scholtz & Company LLC bought a new stake in McKesson in the 2nd quarter valued at about $4,891,000. National Pension Service raised its stake in McKesson by 2.7% during the 2nd quarter. National Pension Service now owns 407,092 shares of the company’s stock worth $307,599,000 after buying an additional 10,878 shares during the period. Finally, WINTON GROUP Ltd bought a new position in McKesson in the second quarter worth approximately $423,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MCK shares. TD Cowen boosted their price objective on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wells Fargo & Company boosted their price target on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Barclays raised their price objective on shares of McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently 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 McKesson stock in a transaction that occurred on Monday, August 10th. The shares were 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 accessible through this link. Also, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was 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 owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 17,227 shares of company stock worth $13,544,415. 0.06% of the stock is owned by corporate insiders.

McKesson Trading Up 0.6%

Shares of McKesson stock opened at $894.38 on Thursday. The company has a market capitalization of $104.28 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 1.77 and a beta of 0.30. The stock has a fifty day simple moving average of $856.40 and a 200 day simple moving average of $841.46. McKesson Corporation has a 12-month low of $687.68 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts predict that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 10.06%.

McKesson 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.