Motley Fool Asset Management LLC Increases Holdings in McKesson Co. (NYSE:MCK)

04 Dec 2024, 13:32 by Mitch Edgeman · The Markets Daily

Motley Fool Asset Management LLC increased its stake in McKesson Co. (NYSE:MCK – Free Report) by 5.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 5,901 shares of the company’s stock after buying an additional 285 shares during the quarter. Motley Fool Asset Management LLC’s holdings in McKesson were worth $2,942,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson in the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the third quarter valued at $31,000. ORG Wealth Partners LLC bought a new stake in shares of McKesson during the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in McKesson during the 2nd quarter worth about $52,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several analyst reports. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Wells Fargo & Company cut their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Evercore ISI lifted their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays boosted their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $631.57.

Get Our Latest Research Report on MCK

McKesson Stock Performance

MCK stock opened at $617.98 on Wednesday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The company has a market capitalization of $78.45 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. The business’s 50 day moving average price is $547.30 and its two-hundred day moving average price is $560.86.

McKesson (NYSE:MCK – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm posted $6.23 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Sell-side analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio is currently 14.71%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

About McKesson

(Free Report)

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.