Dividend Assets Capital LLC Makes New $3.55 Million Investment in McKesson Corporation $MCK

Dividend Assets Capital LLC purchased a new stake in McKesson Corporation (NYSE:MCK) during the 1st quarter, Holdings Channel.com reports. The firm purchased 4,102 shares of the company’s stock, valued at approximately $3,550,000.

A number of other institutional investors also recently modified their holdings of MCK. University of Texas Texas AM Investment Management Co. acquired a new stake in McKesson in the 4th quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new position in McKesson during the 4th quarter worth approximately $26,000. State of Wyoming acquired a new position in McKesson during the 2nd quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of McKesson during the 3rd quarter worth approximately $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $33,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Down 0.0%

NYSE MCK opened at $786.17 on Monday. The company has a market cap of $92.05 billion, a PE ratio of 20.44, a PEG ratio of 1.29 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock has a 50 day moving average of $769.23 and a 200-day moving average of $839.09.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s dividend payout ratio (DPR) is 8.53%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays cut their price objective on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Bank of America decreased their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Finally, Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $960.53.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the sale, the chief executive officer directly owned 14,382 shares in the company, valued at approximately $11,147,919.66. This trade represents a 37.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the company’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 $1,817,482.92. Following the completion of the sale, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 20,285 shares of company stock valued at $15,546,137 over the last quarter. 0.06% of the stock is currently owned by company insiders.

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.