6,473 Shares in McKesson Corporation $MCK Bought by Scholtz & Company LLC

Scholtz & Company LLC purchased a new stake in McKesson Corporation (NYSE:MCK) during the 2nd quarter, Holdings Channel reports. The firm purchased 6,473 shares of the company’s stock, valued at approximately $4,891,000. McKesson makes up about 2.4% of Scholtz & Company LLC’s portfolio, making the stock its 16th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Secure Asset Management LLC raised its holdings in shares of McKesson by 484.8% in the 2nd quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock valued at $1,604,000 after purchasing an additional 1,760 shares during the period. Summit Global Investments bought a new stake in McKesson in the second quarter valued at approximately $1,159,000. Walter Public Investments Inc. acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $6,538,000. One Wealth Advisors LLC bought a new position in shares of McKesson during the 2nd quarter worth approximately $1,494,000. Finally, Royal London Asset Management Ltd. increased its holdings in shares of McKesson by 1.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock worth $84,809,000 after acquiring an additional 1,216 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MCK shares. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Barclays upped their target price on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $973.44.

McKesson Trading Up 0.6%

Shares of MCK opened at $894.38 on Thursday. McKesson Corporation has a 12 month low of $687.68 and a 12 month high of $999.00. The firm’s 50 day moving average is $856.40 and its 200-day moving average is $841.46. The stock has a market capitalization of $104.28 billion, a PE ratio of 23.93, a P/E/G ratio of 1.77 and a beta of 0.30.

McKesson (NYSE:MCK) last issued 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 business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the prior year, the business posted $8.26 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities research analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.94 dividend. 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. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 10.06%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian Tyler sold 8,463 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% 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, Director Bradley Lerman sold 301 shares of the 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,227 shares of company stock worth $13,544,415 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

McKesson Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.