Waverly Advisors LLC Has $4.69 Million Stake in McKesson Corporation $MCK

Waverly Advisors LLC grew its stake in McKesson Corporation (NYSE:MCK) by 26.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,208 shares of the company’s stock after purchasing an additional 1,294 shares during the period. Waverly Advisors LLC’s holdings in McKesson were worth $4,691,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MCK. Secure Asset Management LLC increased its stake in shares of McKesson by 484.8% in the second quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock valued at $1,604,000 after buying an additional 1,760 shares during the period. Summit Global Investments acquired a new stake in McKesson during the 2nd quarter worth approximately $1,159,000. One Wealth Advisors LLC bought a new stake in McKesson during the 2nd quarter worth approximately $1,494,000. Walter Public Investments Inc. bought a new stake in McKesson during the 4th quarter worth approximately $6,538,000. Finally, Royal London Asset Management Ltd. increased its position in McKesson by 1.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock valued at $84,809,000 after acquiring an additional 1,216 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCK has been the subject of several analyst reports. Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Citigroup increased their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Royal Bank Of Canada began coverage on McKesson in a report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 target price on the stock. Finally, Barclays upped their price target on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $973.44.

McKesson Stock Performance

NYSE:MCK opened at $881.22 on Friday. McKesson Corporation has a 52 week low of $687.68 and a 52 week high of $999.00. The firm’s fifty day moving average is $858.30 and its 200-day moving average is $840.99. The firm has a market cap of $102.74 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.77 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its earnings results 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 business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last 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, sell-side analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current 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 a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 10.06%.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer directly owned 521 shares in the company, valued at approximately $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,338 shares of company stock valued at $13,643,366 in the last ninety days. 0.06% of the stock is owned by company insiders.

McKesson 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.