McKesson Corporation $MCK Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its position in McKesson Corporation (NYSE:MCK) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,998 shares of the company’s stock after selling 1,897 shares during the period. HighTower Advisors LLC owned about 0.07% of McKesson worth $64,225,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MCK. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson in the fourth quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in McKesson during the fourth quarter worth about $26,000. Delos Wealth Advisors LLC acquired a new stake in McKesson during the second quarter worth about $27,000. State of Wyoming purchased a new position in shares of McKesson in the 2nd quarter worth about $29,000. Finally, Kingdom Financial Group LLC. acquired a new position in shares of McKesson in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research analyst reports. Royal Bank Of Canada started coverage on shares of McKesson in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 target price for the company. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Barclays increased their price objective on shares of McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company lifted their target price on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Fourteen 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $973.44.

McKesson Stock Performance

Shares of NYSE:MCK opened at $907.35 on Tuesday. The company has a market cap of $105.79 billion, a P/E ratio of 24.28, a PEG ratio of 1.81 and a beta of 0.30. McKesson Corporation has a one year low of $682.35 and a one year high of $999.00. The business’s 50-day simple moving average is $851.29 and its 200 day simple moving average is $842.17.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 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 firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same period in the previous year, the company posted $8.26 EPS. McKesson’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts predict that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

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

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,227 shares of company stock worth $13,544,415 in the last ninety days. 0.06% of the stock is currently owned by insiders.

McKesson Company 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.