BayBridge Capital Group LLC Raises Stock Position in McKesson Corporation $MCK

BayBridge Capital Group LLC lifted its position in shares of McKesson Corporation (NYSE:MCK) by 268.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,943 shares of the company’s stock after acquiring an additional 1,415 shares during the quarter. BayBridge Capital Group LLC’s holdings in McKesson were worth $1,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. Arizona State Retirement System boosted its position in McKesson by 0.5% during the second quarter. Arizona State Retirement System now owns 33,988 shares of the company’s stock worth $25,681,000 after purchasing an additional 157 shares in the last quarter. Waverly Advisors LLC increased its position in shares of McKesson by 26.3% in the second quarter. Waverly Advisors LLC now owns 6,208 shares of the company’s stock valued at $4,691,000 after buying an additional 1,294 shares in the last quarter. Carmignac Gestion increased its position in shares of McKesson by 97.3% in the second quarter. Carmignac Gestion now owns 626,904 shares of the company’s stock valued at $473,674,000 after buying an additional 309,183 shares in the last quarter. Empirical Finance LLC raised its stake in shares of McKesson by 2.9% during the 2nd quarter. Empirical Finance LLC now owns 4,789 shares of the company’s stock worth $3,619,000 after buying an additional 137 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of McKesson in the 2nd quarter worth about $36,497,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,227 shares of company stock valued at $13,544,415 over the last quarter. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MCK shares. Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. UBS Group raised their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Robert W. Baird set a $1,015.00 target price on McKesson in a research note on Thursday, August 6th. Finally, Wells Fargo & Company increased their target price on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

McKesson Price Performance

NYSE:MCK opened at $887.65 on Wednesday. The firm has a 50 day simple moving average of $853.90 and a 200-day simple moving average of $841.76. The firm has a market cap of $103.49 billion, a PE ratio of 23.75, a P/E/G ratio of 1.81 and a beta of 0.30. McKesson Corporation has a 1-year low of $687.68 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side 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. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

McKesson Company Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.