Stonehage Fleming Financial Services Holdings Ltd Buys Shares of 3,700 McKesson Corporation $MCK

Stonehage Fleming Financial Services Holdings Ltd bought a new position in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,700 shares of the company’s stock, valued at approximately $2,796,000.

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

McKesson Stock Performance

Shares of MCK stock opened at $890.20 on Friday. McKesson Corporation has a 1 year low of $677.28 and a 1 year high of $999.00. The stock has a market cap of $103.79 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30. The business’s fifty day moving average is $830.40 and its 200-day moving average is $843.76.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 business had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the prior year, the firm posted $8.26 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. 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 year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 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 is currently 8.78%.

Analyst Ratings Changes

Several research firms have recently issued reports on MCK. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. UBS Group lifted their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note 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. JPMorgan Chase & Co. lowered their target price 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. Finally, Barclays boosted their price target 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. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $973.44.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. This trade represents a 17.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 23,111 shares of company stock worth $18,011,274. Company insiders own 0.06% of the company’s stock.

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.