Headlands Technologies LLC Raises Stock Holdings in McKesson Corporation $MCK

Headlands Technologies LLC boosted its position in shares of McKesson Corporation (NYSE:MCK) by 424.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,771 shares of the company’s stock after acquiring an additional 1,433 shares during the quarter. Headlands Technologies LLC’s holdings in McKesson were worth $1,338,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MCK. University of Texas Texas AM Investment Management Co. bought a new position in shares of McKesson during the fourth quarter valued at about $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson in the fourth quarter worth about $26,000. Delos Wealth Advisors LLC purchased a new position in McKesson during the 2nd quarter valued at about $27,000. State of Wyoming bought a new position in McKesson during the 2nd quarter valued at approximately $29,000. Finally, Kingdom Financial Group LLC. bought a new position in McKesson during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. TD Cowen lifted their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. UBS Group lifted their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price target on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Barclays raised their price objective on shares of McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson 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 directly owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% 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 22,289 shares of company stock valued at $17,406,854 in the last 90 days. Insiders own 0.06% of the company’s stock.

McKesson Stock Down 0.9%

NYSE MCK opened at $885.36 on Tuesday. The stock’s 50-day moving average price is $836.11 and its 200-day moving average price is $842.95. McKesson Corporation has a 52 week low of $679.65 and a 52 week high of $999.00. The company has a market capitalization of $103.22 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30.

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 negative return on equity of 253.21% and a net margin of 1.12%.The firm had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the prior year, the company posted $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. Research analysts anticipate 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 paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is presently 8.78%.

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.