Sunbelt Securities Inc. Purchases 2,234 Shares of McKesson Corporation $MCK

Sunbelt Securities Inc. grew its position in shares of McKesson Corporation (NYSE:MCK) by 409.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,779 shares of the company’s stock after acquiring an additional 2,234 shares during the period. Sunbelt Securities Inc.’s holdings in McKesson were worth $2,405,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Horizon Investments LLC raised its holdings in McKesson by 125.4% in the fourth quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after purchasing an additional 4,828 shares in the last quarter. J. Safra Sarasin Holding AG bought a new stake in shares of McKesson during the 4th quarter valued at $2,481,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of McKesson by 18.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company’s stock worth $25,860,000 after buying an additional 4,964 shares during the period. HF Advisory Group LLC grew its position in shares of McKesson by 2,069.6% in the 4th quarter. HF Advisory Group LLC now owns 44,910 shares of the company’s stock worth $36,839,000 after buying an additional 42,840 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in shares of McKesson by 62.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock worth $2,590,000 after acquiring an additional 1,219 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $890.23 on Thursday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The company’s 50-day moving average is $786.82 and its 200 day moving average is $839.75. The company has a market capitalization of $104.23 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 1.46 and a beta of 0.31.

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

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend 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 8.53%.

Insider Activity

In related news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction that occurred 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 directly owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% 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 28,748 shares of company stock worth $22,262,035 over the last three months. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MCK shares. TD Cowen lowered their price target on shares of McKesson from $1,012.00 to $989.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. William Blair assumed coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Wells Fargo & Company dropped their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Finally, Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $962.67.

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.