Heartland Bank & Trust Co Makes New Investment in McKesson Corporation $MCK

Heartland Bank & Trust Co bought a new position in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 983 shares of the company’s stock, valued at approximately $743,000.

Several other institutional investors and hedge funds have also made changes to their positions in MCK. Horizon Investments LLC raised its holdings in shares of McKesson by 125.4% during 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 during the period. Concurrent Investment Advisors LLC boosted its holdings 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 valued at $2,590,000 after buying an additional 1,219 shares during the period. Walter Public Investments Inc. bought a new stake in shares of McKesson during the 4th quarter valued at about $6,538,000. Artemis Investment Management LLP raised its stake in McKesson by 149.9% during the fourth quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock worth $9,574,000 after acquiring an additional 7,000 shares during the period. Finally, North Dakota State Investment Board acquired a new stake in McKesson during the fourth quarter worth about $3,969,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Citigroup increased their price target on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Barclays raised their price target on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Finally, William Blair initiated coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $973.44.

McKesson Price Performance

MCK opened at $862.27 on Friday. The stock’s 50 day moving average price is $820.97 and its 200 day moving average price is $843.86. The stock has a market cap of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.65 and a beta of 0.30. McKesson Corporation has a 12 month low of $673.38 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) 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 company had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the firm posted $8.26 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities analysts anticipate that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

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

Insider Activity

In other McKesson news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,049 shares of company stock worth $22,530,626 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

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.