Great Lakes Advisors LLC Invests $30.75 Million in McKesson Corporation $MCK

Great Lakes Advisors LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel.com reports. The fund bought 40,693 shares of the company’s stock, valued at approximately $30,747,000.

A number of other large investors have also added to or reduced their stakes in MCK. BOK Financial Private Wealth Inc. acquired a new position in shares of McKesson in the second quarter valued at $161,000. Act Two Investors LLC acquired a new stake in shares of McKesson during the 2nd quarter worth about $6,740,000. Danica Pension Livsforsikringsaktieselskab acquired a new position in McKesson in the 2nd quarter valued at about $48,771,000. Danske Bank A S acquired a new position in McKesson in the 2nd quarter valued at about $128,291,000. Finally, Diversify Advisory Services LLC bought a new position in McKesson in the 2nd quarter valued at about $972,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MCK shares. TD Cowen boosted their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. William Blair began coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating for the company. JPMorgan Chase & Co. reduced their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $977.00.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson 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 sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. 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 90 days, insiders have sold 29,049 shares of company stock valued at $22,530,626. Company insiders own 0.06% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $869.73 on Wednesday. The firm has a 50 day simple moving average of $817.06 and a two-hundred day simple moving average of $843.43. McKesson Corporation has a one year low of $667.50 and a one year high of $999.00. The company has a market cap of $101.40 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last issued 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. 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 for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter last year, the business 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. On average, analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is 8.78%.

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.