Lynch Asset Management Inc. Takes Position in McKesson Corporation $MCK

Lynch Asset Management Inc. bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,050 shares of the company’s stock, valued at approximately $793,000.

A number of other large investors also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson during the fourth quarter valued at about $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson in the fourth quarter worth about $26,000. State of Wyoming bought a new stake in shares of McKesson in the 2nd quarter valued at about $29,000. Kingdom Financial Group LLC. bought a new stake in shares of McKesson in the 4th quarter valued at about $33,000. Finally, Birchwood Financial Partners Inc. purchased a new stake in McKesson during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.0%

McKesson stock opened at $868.72 on Monday. The firm has a market cap of $101.28 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.71 and a beta of 0.30. McKesson Corporation has a 1-year low of $667.50 and a 1-year high of $999.00. The firm has a 50-day moving average of $813.45 and a 200-day moving average of $842.94.

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, beating analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.McKesson’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts forecast 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. Stockholders of record on Tuesday, September 1st will be given 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 is 8.78%.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction 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 represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on MCK shares. Robert W. Baird set a $1,015.00 price target on McKesson in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Citigroup increased their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Wells Fargo & Company raised their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Finally, William Blair assumed coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $977.00.

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.