Citizens Financial Group Inc. RI Invests $2.35 Million in McKesson Corporation $MCK

Citizens Financial Group Inc. RI acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,107 shares of the company’s stock, valued at approximately $2,350,000.

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

Insider Transactions at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% 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. Insiders sold 29,049 shares of company stock worth $22,530,626 over the last quarter. Insiders own 0.06% of the company’s stock.

McKesson Trading Down 0.9%

Shares of MCK opened at $861.59 on Tuesday. McKesson Corporation has a twelve month low of $667.50 and a twelve month high of $999.00. The stock’s fifty day simple moving average is $815.34 and its 200 day simple moving average is $843.12. The firm has a market capitalization of $100.45 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 EPS 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 for the quarter, compared to the consensus estimate of $103.88 billion. During the same period last year, the business posted $8.26 EPS. 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. Sell-side analysts predict that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Robert W. Baird set a $1,015.00 target price on McKesson in a report on Thursday, August 6th. JPMorgan Chase & Co. decreased their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, TD Cowen boosted their price target on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $977.00.

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.