Rep. Byron Donalds Buys McKesson Co. (NYSE:MCK) Stock

Representative Byron Donalds (R-Florida) recently bought shares of McKesson Co. (NYSE:MCK). In a filing disclosed on November 07th, the Representative disclosed that they had bought between $1,001 and $15,000 in McKesson stock on October 1st. The trade occurred in the Representative’s “MORAN WEALTH IRA” account.

Representative Byron Donalds also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/1/2024.
• Purchased $1,001 – $15,000 in shares of NU (NYSE:NU) on 10/1/2024.
• Sold $1,001 – $15,000 in shares of Synopsys (NASDAQ:SNPS) on 10/1/2024.

McKesson Price Performance

NYSE MCK opened at $613.12 on Friday. The stock’s fifty day moving average price is $513.03 and its 200 day moving average price is $551.60. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The company has a market cap of $79.51 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 1.23 and a beta of 0.44.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $0.18. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the firm earned $6.23 EPS. The firm’s revenue was up 21.3% on a year-over-year basis. Research analysts expect that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is 12.70%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is owned by insiders.

Institutional Trading of McKesson

A number of hedge funds have recently bought and sold shares of the business. LRI Investments LLC acquired a new stake in shares of McKesson during the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its holdings in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in McKesson in the 3rd quarter valued at approximately $29,000. ORG Wealth Partners LLC acquired a new stake in McKesson in the 3rd quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in McKesson in the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on MCK shares. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research note on Thursday. Mizuho increased their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $625.64.

About Representative Donalds

Byron Donalds (Republican Party) is a member of the U.S. House, representing Florida’s 19th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2025. Donalds (Republican Party) is running for re-election to the U.S. House to represent Florida’s 19th Congressional District. He declared candidacy for the Republican primary scheduled on August 20, 2024. Donalds was a potential 2014 Republican candidate seeking election to the U.S. House to represent the 19th Congressional District of Florida. Donalds filed campaign finance reports with the Federal Election Commission but failed to file a statement of candidacy with the FEC or Florida Division of Elections. He was a 2012 Republican candidate who sought election to the U.S. House to represent the 19th Congressional District of Florida. Donalds was defeated by Trey Radel in the Republican primary on August 14, 2012. Byron Donalds was born in Brooklyn, New York, and lives in Naples, Florida. Donalds earned a bachelor’s degree in finance and marketing from Florida State University in 2002. His career experience includes working as a commercial credit officer in banking and as a portfolio manager in financial services.

About McKesson

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.