Van Hulzen Asset Management LLC Invests $3.63 Million in McKesson Corporation $MCK

Van Hulzen Asset Management LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,803 shares of the company’s stock, valued at approximately $3,629,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SurgoCap Partners LP purchased a new stake in McKesson in the second quarter worth $284,763,000. Peak Asset Management LLC bought a new stake in McKesson in the second quarter valued at $2,119,000. Fiduciary Financial Advisors purchased a new position in McKesson during the 2nd quarter valued at $42,000. Manning & Napier Advisors LLC purchased a new position in McKesson during the 2nd quarter valued at $22,549,000. Finally, Cetera Trust Company N.A bought a new position in McKesson in the 2nd quarter worth $4,530,000. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the company’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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,111 shares of company stock valued at $18,011,274. Company insiders own 0.06% of the company’s stock.

McKesson Trading Up 1.8%

Shares of NYSE:MCK opened at $874.20 on Tuesday. McKesson Corporation has a 12-month low of $673.38 and a 12-month high of $999.00. The company has a market cap of $101.92 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30. The stock has a 50 day moving average of $822.86 and a 200 day moving average of $844.00.

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. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the previous year, the firm posted $8.26 EPS. McKesson’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities research analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 is Tuesday, September 1st. McKesson’s payout ratio is presently 8.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCK. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Royal Bank Of Canada assumed coverage on shares of McKesson in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price objective for the company. Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, UBS Group lifted their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $973.44.

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.