Opal Capital LLC Acquires New Stake in McKesson Corporation $MCK

Opal Capital LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 784 shares of the company’s stock, valued at approximately $643,000.

Several other large investors also recently added to or reduced their stakes in MCK. GGM Financials LLC purchased a new stake in McKesson during the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of McKesson in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new stake in shares of McKesson during the 4th quarter valued at approximately $26,000. State of Wyoming bought a new position in McKesson in the 2nd quarter worth approximately $29,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in McKesson in the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent research reports. Raymond James Financial set a $970.00 price target on McKesson in a research report on Thursday, March 5th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays lowered their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Wells Fargo & Company cut their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Finally, Citigroup reduced their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $960.53.

McKesson Stock Up 0.9%

NYSE:MCK opened at $786.55 on Wednesday. The firm has a market capitalization of $92.09 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.28 and a beta of 0.31. The company has a fifty day moving average of $794.00 and a 200 day moving average of $844.72. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.McKesson’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 8.53%.

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 McKesson stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,822 shares of company stock valued at $8,986,212 in the last quarter. 0.08% of the stock is owned by insiders.

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.