Simplicity Wealth LLC Makes New Investment in McKesson Corporation $MCK

Simplicity Wealth LLC purchased a new position in McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel reports. The fund purchased 1,800 shares of the company’s stock, valued at approximately $509,000.

A number of other hedge funds also recently made changes to their positions in MCK. Uniting Wealth Partners LLC bought a new position in McKesson in the second quarter valued at $509,000. Trivium Point Advisory LLC bought a new stake in McKesson during the second quarter worth about $217,000. RW Investment Management LLC purchased a new position in shares of McKesson in the 2nd quarter worth about $351,000. HBK Sorce Advisory LLC purchased a new position in shares of McKesson in the 2nd quarter worth about $1,069,000. Finally, Peachtree Investment Partners LLC bought a new position in shares of McKesson during the 2nd quarter valued at about $8,563,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCK. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Wells Fargo & Company boosted their price objective 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, Barclays cut their price objective on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $977.00.

Insider Transactions at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the firm’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 in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is currently owned by insiders.

McKesson Trading Down 0.9%

NYSE MCK opened at $861.59 on Tuesday. McKesson Corporation has a 1-year low of $667.50 and a 1-year high of $999.00. The stock has a 50-day moving average of $815.34 and a 200-day moving average of $843.12. The firm has a market cap of $100.45 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating 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 company had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same period in the prior year, the business posted $8.26 EPS. McKesson’s quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is currently 10.06%.

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.