847 McKesson Corporation $MCK Shares Sold by Formuepleje A S

Formuepleje A S lowered its stake in shares of McKesson Corporation (NYSE:MCK) by 49.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 883 shares of the company’s stock after selling 847 shares during the period. Formuepleje A S’s holdings in McKesson were worth $754,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nvwm LLC grew its holdings in shares of McKesson by 933.3% during the 3rd quarter. Nvwm LLC now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. Delos Wealth Advisors LLC purchased a new position in McKesson in the second quarter valued at about $27,000. GK Wealth Management LLC acquired a new stake in shares of McKesson in the third quarter valued at about $38,000. Clearstead Trust LLC acquired a new position in McKesson during the 2nd quarter worth approximately $37,000. Finally, Security National Bank of SO Dak purchased a new position in shares of McKesson in the second quarter valued at $39,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of McKesson stock traded up $14.39 during midday trading on Thursday, hitting $990.96. 305,415 shares of the company were exchanged, compared to its average volume of 929,976. The firm has a market cap of $115.54 billion, a P/E ratio of 26.52, a PEG ratio of 2.02 and a beta of 0.30. McKesson Corporation has a 52 week low of $723.68 and a 52 week high of $1,003.21. The firm has a 50 day simple moving average of $892.49 and a 200-day simple moving average of $835.35.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same period in the previous year, the firm earned $8.26 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities research analysts expect that McKesson Corporation will post 44.73 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, September 1st. This is a positive change 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%. McKesson’s dividend payout ratio is presently 10.06%.

Insiders Place Their Bets

In other news, Director Bradley Lerman sold 301 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. Also, CAO B Jr sold 111 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. This represents a 17.56% 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. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MCK shares. Argus boosted their target price on shares of McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Bank of America boosted their price objective on McKesson from $950.00 to $1,050.00 in a research report on Thursday, August 6th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $845.00 price objective on shares of McKesson in a research note on Monday, September 14th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research note on Thursday, August 6th. Finally, Barclays lifted their price target on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $983.29.

McKesson Company Profile

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.