First Nebraska Trust Co Buys New Position in McKesson Corporation $MCK

First Nebraska Trust Co purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 835 shares of the company’s stock, valued at approximately $631,000.

Several other hedge funds have also recently modified their holdings of MCK. Brighton Jones LLC raised its position in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new stake in McKesson during the 1st quarter worth approximately $233,000. Sivia Capital Partners LLC increased its stake in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after purchasing an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in shares of McKesson in the second quarter worth $166,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 2.8%

Shares of NYSE MCK opened at $862.27 on Friday. The company has a 50 day simple moving average of $820.97 and a two-hundred day simple moving average of $843.86. The stock has a market cap of $100.53 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.69 and a beta of 0.30. McKesson Corporation has a 12 month low of $673.38 and a 12 month high of $999.00.

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. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the prior year, the business earned $8.26 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts forecast 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. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is 8.78%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Morgan Stanley reissued an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. JPMorgan Chase & Co. reduced their target price on 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. TD Cowen lifted their price target on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $1,015.00 price target on McKesson in a research note on Thursday, August 6th. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. This trade represents a 43.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% 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 three months, insiders have sold 29,049 shares of company stock worth $22,530,626. 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.