Eubel Brady & Suttman Asset Management Inc. Boosts Stock Position in McKesson Co. (NYSE:MCK)

13 Dec 2023, 13:40 by Scott Moore · The Cerbat Gem

Eubel Brady & Suttman Asset Management Inc. boosted its holdings in McKesson Co. (NYSE:MCK – Free Report) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,934 shares of the company’s stock after purchasing an additional 142 shares during the period. McKesson comprises 2.0% of Eubel Brady & Suttman Asset Management Inc.’s holdings, making the stock its 27th largest position. Eubel Brady & Suttman Asset Management Inc.’s holdings in McKesson were worth $14,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Covestor Ltd lifted its position in shares of McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after buying an additional 34 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. lifted its position in shares of McKesson by 313.3% during the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 62 shares of the company’s stock valued at $26,000 after buying an additional 47 shares during the last quarter. Live Oak Investment Partners purchased a new position in shares of McKesson during the 4th quarter valued at $30,000. Capital Advisors Ltd. LLC lifted its position in shares of McKesson by 1,700.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 90 shares of the company’s stock valued at $38,000 after buying an additional 85 shares during the last quarter. Finally, Castleview Partners LLC lifted its position in shares of McKesson by 87.8% during the 2nd quarter. Castleview Partners LLC now owns 92 shares of the company’s stock valued at $39,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 82.69% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 25,246 shares of the stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $446.86, for a total transaction of $11,281,427.56. Following the completion of the sale, the chief executive officer now directly owns 67,408 shares in the company, valued at approximately $30,121,938.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Brian S. Tyler sold 3,471 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $450.00, for a total value of $1,561,950.00. Following the completion of the transaction, the chief executive officer now owns 67,408 shares in the company, valued at approximately $30,333,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 25,246 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $446.86, for a total value of $11,281,427.56. Following the completion of the transaction, the chief executive officer now owns 67,408 shares of the company’s stock, valued at approximately $30,121,938.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,898 shares of company stock worth $17,987,469. 0.21% of the stock is currently owned by insiders.

McKesson Stock Up 1.0 %

Shares of McKesson stock traded up $4.43 during trading on Wednesday, hitting $466.57. 105,612 shares of the stock traded hands, compared to its average volume of 865,750. The stock has a market cap of $62.08 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.60 and a beta of 0.54. The firm’s fifty day moving average is $456.10 and its 200-day moving average is $430.31. McKesson Co. has a 52 week low of $331.75 and a 52 week high of $476.35.

McKesson (NYSE:MCK – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $6.23 EPS for the quarter, beating the consensus estimate of $6.11 by $0.12. The firm had revenue of $77.22 billion for the quarter, compared to analyst estimates of $76.03 billion. McKesson had a negative return on equity of 241.79% and a net margin of 1.20%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $6.06 EPS. On average, analysts forecast that McKesson Co. will post 27.25 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.48 annualized dividend and a dividend yield of 0.53%. McKesson’s dividend payout ratio (DPR) is presently 9.80%.

Analysts Set New Price Targets

A number of analysts recently issued reports on MCK shares. StockNews.com started coverage on McKesson in a report on Thursday, October 5th. They set a “strong-buy” rating on the stock. JPMorgan Chase & Co. increased their price objective on McKesson from $495.00 to $514.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Argus increased their price objective on McKesson from $450.00 to $480.00 and gave the stock a “buy” rating in a report on Monday, October 9th. Evercore ISI increased their price objective on McKesson from $485.00 to $490.00 in a report on Wednesday, October 11th. Finally, Morgan Stanley increased their price objective on McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $478.50.

Check Out Our Latest Stock Report on MCK

McKesson Company Profile

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