Goodman Advisory Group LLC Purchases Shares of 2,450 McKesson Corporation $MCK

Goodman Advisory Group LLC acquired a new stake in McKesson Corporation (NYSE:MCK) in the first quarter, HoldingsChannel reports. The institutional investor acquired 2,450 shares of the company’s stock, valued at approximately $2,120,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the 4th quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in McKesson in the fourth quarter worth about $26,000. State of Wyoming acquired a new position in McKesson in the second quarter worth about $29,000. Vermillion & White Wealth Management Group LLC bought a new position in McKesson during the third quarter worth about $33,000. Finally, Board of the Pension Protection Fund bought a new position in McKesson during the fourth quarter worth about $33,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCK. Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Wells Fargo & Company cut their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Bank of America decreased their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Citigroup lowered their price target on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $960.53.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. 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 ninety days, insiders sold 20,285 shares of company stock worth $15,546,137. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Up 0.1%

Shares of NYSE MCK opened at $764.38 on Friday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The firm’s 50-day simple moving average is $777.55 and its 200 day simple moving average is $840.29. The company has a market cap of $89.49 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 1.26 and a beta of 0.31.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter last year, the company posted $10.12 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts expect that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is 8.53%.

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.