732 Shares in McKesson Corporation $MCK Bought by Csenge Advisory Group

Csenge Advisory Group acquired a new stake in McKesson Corporation (NYSE:MCK) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 732 shares of the company’s stock, valued at approximately $553,000.

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

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 29,049 shares of company stock valued at $22,530,626. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MCK shares. Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Weiss Ratings lowered shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Finally, UBS Group boosted their target price on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

McKesson Stock Performance

Shares of MCK opened at $841.21 on Friday. McKesson Corporation has a twelve month low of $673.38 and a twelve month high of $999.00. The firm’s 50 day moving average price is $819.40 and its two-hundred day moving average price is $843.73. The firm has a market cap of $98.08 billion, a P/E ratio of 22.51, a PEG ratio of 1.68 and a beta of 0.30.

McKesson (NYSE:MCK) last released its quarterly 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 net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the prior year, the company earned $8.26 earnings per share. The business’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. On average, sell-side analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

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.