Performance Wealth Partners LLC Makes New Investment in McKesson Corporation $MCK

Performance Wealth Partners LLC bought a new position in McKesson Corporation (NYSE:MCK) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 1,441 shares of the company’s stock, valued at approximately $1,089,000.

Several other institutional investors also recently bought and sold shares of MCK. Horizon Investments LLC boosted its holdings in McKesson by 125.4% in the fourth quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock valued at $7,119,000 after acquiring an additional 4,828 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in McKesson by 62.9% during the fourth 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 during the last quarter. Walter Public Investments Inc. purchased a new position in shares of McKesson in the 4th quarter worth about $6,538,000. Artemis Investment Management LLP raised its holdings in shares of McKesson by 149.9% in the 4th quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock worth $9,574,000 after purchasing an additional 7,000 shares during the period. Finally, North Dakota State Investment Board acquired a new position in shares of McKesson in the 4th quarter valued at about $3,969,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the firm’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 directly owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% 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. In the last ninety days, insiders have sold 29,049 shares of company stock valued at $22,530,626. Corporate insiders own 0.06% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $861.59 on Tuesday. The firm has a 50-day moving average of $815.34 and a two-hundred day moving average of $843.12. The stock has a market cap of $100.45 billion, a P/E ratio of 23.06, a PEG ratio of 1.71 and a beta of 0.30. McKesson Corporation has a 1-year low of $667.50 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts expect that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MCK shares. JPMorgan Chase & Co. reduced their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. UBS Group raised 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. William Blair began coverage on shares of McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Wells Fargo & Company upped their price target on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Finally, Citigroup increased their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $977.00.

About McKesson

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.