2,606 Shares in McKesson Corporation $MCK Bought by Portfolio Design Labs LLC

Portfolio Design Labs LLC acquired a new stake in McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,606 shares of the company’s stock, valued at approximately $1,969,000.

Several other large investors have also bought and sold shares of MCK. Vanguard Group Inc. grew its position in shares of McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after buying an additional 73,109 shares during the last quarter. BlackRock Inc. bought a new position in shares of McKesson during the second quarter worth about $8,156,743,000. State Street Corp raised its position in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after acquiring an additional 29,660 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after acquiring an additional 25,082 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after acquiring an additional 144,633 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCK. Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Wells Fargo & Company upped their price objective 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. TD Cowen increased their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Barclays lifted their target price on shares of McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Robert W. Baird set a $1,015.00 target price on shares of McKesson in a report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $973.44.

McKesson Price Performance

Shares of McKesson stock opened at $841.21 on Friday. The business has a 50-day simple moving average of $819.40 and a 200 day simple moving average of $843.73. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00. The firm has a market capitalization of $98.08 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.68 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $103.88 billion. During the same quarter in the prior year, the company earned $8.26 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, sell-side analysts expect that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is 10.06%.

Insiders Place Their Bets

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. 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 a total of 29,049 shares of company stock worth $22,530,626 in the last quarter. Insiders own 0.06% of the company’s stock.

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.