1,082 Shares in McKesson Corporation $MCK Bought by Yukon Wealth Management Inc.

Yukon Wealth Management Inc. purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,082 shares of the company’s stock, valued at approximately $818,000.

Several other institutional investors and hedge funds have also bought and sold shares of MCK. Hamilton Capital LLC bought a new position in McKesson in the 2nd quarter worth $354,000. Old North State Trust LLC purchased a new position in shares of McKesson during the second quarter valued at about $753,000. Equitable Holdings Inc. purchased a new position in shares of McKesson during the second quarter valued at about $2,680,000. Centaurus Financial Inc. bought a new position in McKesson in the second quarter worth about $3,443,000. Finally, N10 Assets LLC purchased a new stake in McKesson in the second quarter worth about $5,679,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Citigroup lifted their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Royal Bank Of Canada started coverage on McKesson in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price target on the stock. Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Finally, Wells Fargo & Company lifted their price target on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction 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 sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s 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 sale, 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. 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. In the last ninety days, insiders have sold 23,111 shares of company stock worth $18,011,274. 0.06% of the stock is owned by corporate insiders.

McKesson Stock Down 0.7%

MCK stock opened at $890.20 on Friday. McKesson Corporation has a 52 week low of $677.28 and a 52 week high of $999.00. The company has a fifty day simple moving average of $830.40 and a two-hundred day simple moving average of $843.76. The firm has a market capitalization of $103.79 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion during 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%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts anticipate that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The business 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 $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is 8.78%.

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.