9,564 Shares in McKesson Corporation $MCK Acquired by Haverford Financial Services Inc.

Haverford Financial Services Inc. bought a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel.com reports. The fund bought 9,564 shares of the company’s stock, valued at approximately $7,227,000. McKesson accounts for approximately 2.1% of Haverford Financial Services Inc.’s holdings, making the stock its 17th largest position.

Several other hedge funds have also bought and sold shares of MCK. Vanguard Group Inc. increased its holdings in shares of McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after buying an additional 73,109 shares during the last quarter. BlackRock Inc. bought a new stake in shares of McKesson during the 2nd quarter worth $8,156,743,000. State Street Corp grew its position in McKesson by 0.5% in the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after acquiring an additional 29,660 shares in the last quarter. Geode Capital Management LLC grew its position in McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after acquiring an additional 25,082 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after acquiring an additional 144,633 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.4%

NYSE:MCK opened at $862.27 on Monday. The firm has a market capitalization of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30. The company has a fifty day moving average of $820.97 and a 200 day moving average of $843.84. McKesson Corporation has a 52 week low of $673.38 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) 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 business had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter last year, the firm earned $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. As a group, analysts anticipate that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The firm 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 dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 company’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. In the last quarter, insiders have sold 29,049 shares of company stock worth $22,530,626. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on MCK. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada assumed coverage on McKesson in a report on Wednesday. They issued a “sector perform” rating and a $845.00 price objective for the company. UBS Group increased their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Barclays raised their price objective on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Robert W. Baird set a $1,015.00 target price on McKesson in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

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.