Landscape Capital Management L.L.C. Buys Shares of 3,797 McKesson Corporation $MCK

Landscape Capital Management L.L.C. purchased a new position in McKesson Corporation (NYSE:MCK) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,797 shares of the company’s stock, valued at approximately $2,869,000.

Several other large investors also recently made changes to their positions in the stock. Korea Investment CORP acquired a new position in shares of McKesson during the 2nd quarter valued at about $41,508,000. EP Wealth Advisors LLC acquired a new stake in McKesson in the 2nd quarter worth approximately $13,728,000. Heartland Bank & Trust Co acquired a new stake in McKesson in the 2nd quarter worth approximately $743,000. Ieq Capital LLC bought a new stake in McKesson during the second quarter worth approximately $15,237,000. Finally, Heron Bay Capital Management bought a new stake in McKesson during the second quarter worth approximately $31,569,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 2.8%

Shares of NYSE MCK opened at $862.27 on Friday. McKesson Corporation has a 12 month low of $673.38 and a 12 month high of $999.00. The company 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. The business’s 50 day moving average is $820.97 and its two-hundred day moving average is $843.86.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. The company had revenue of $105.38 billion during 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%.McKesson’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal 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 paid a dividend of $0.94 per share. 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 currently 8.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MCK shares. TD Cowen boosted their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research note on Thursday, August 6th. Citigroup lifted their target price on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. William Blair began coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company upped their price target on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $973.44.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is currently owned by 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.