Proficio Capital Partners LLC Purchases Shares of 625 McKesson Corporation $MCK

Proficio Capital Partners LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 625 shares of the company’s stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MCK. BlackRock Inc. bought a new stake in McKesson during the second quarter valued at approximately $8,156,743,000. State Street Corp increased its holdings in shares of McKesson by 0.5% in the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after buying an additional 29,660 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of McKesson by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after buying an additional 25,082 shares during the last quarter. Franklin Resources Inc. raised its position in shares of McKesson by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after buying an additional 144,633 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of McKesson during the 4th quarter valued at $1,651,137,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research report on Thursday, August 6th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. TD Cowen upped their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada initiated coverage on McKesson in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 price objective on the stock. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $973.44.

Insider Buying and Selling

In other news, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction dated 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 filing with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This trade represents a 23.56% 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 a total of 23,111 shares of company stock worth $18,011,274 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $890.20 on Friday. McKesson Corporation has a 52-week low of $677.28 and a 52-week high of $999.00. The stock has a market capitalization of $103.79 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30. The company has a fifty day moving average of $830.40 and a 200-day moving average of $843.76.

McKesson (NYSE:MCK) last released 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. The company had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is 8.78%.

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.