14,314 Shares in McKesson Corporation $MCK Purchased by Groupe la Francaise

Key Points

• Groupe la Française purchased 14,314 McKesson shares worth approximately $10.82 million in the second quarter. Institutional investors collectively own 85.07% of the company.
• Analysts remain broadly bullish, with 14 Buy ratings and four Holds; McKesson has a “Moderate Buy” consensus rating and an average price target of $973.44.
• McKesson exceeded quarterly expectations with $9.93 EPS and $105.38 billion in revenue, while revenue rose 7.7% year over year. The company also raised its quarterly dividend from $0.82 to $0.94 per share.

Groupe la Francaise bought a new stake in McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,314 shares of the company's stock, valued at approximately $10,820,000.

Several other large investors have also recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of McKesson by 73,780.3% in the second quarter. California State Teachers Retirement System now owns 141,246,575 shares of the company's stock valued at $106,725,912,000 after acquiring an additional 141,055,392 shares in the last quarter. BlackRock Inc. bought a new stake in McKesson during the second quarter worth approximately $8,156,743,000. Norges Bank bought a new stake in McKesson during the fourth quarter worth approximately $1,651,137,000. Bank of America Corp DE acquired a new stake in McKesson in the second quarter worth approximately $998,896,000. Finally, Legal & General Group Plc acquired a new stake in McKesson in the second quarter worth approximately $656,566,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCK. Robert W. Baird set a $1,015.00 price target on McKesson in a research report on Thursday, August 6th. UBS Group upped their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a report on Thursday, August 6th. TD Cowen lifted their target price on McKesson from $989.00 to $1,006.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Citigroup lifted their target price on McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, Evercore reissued an "outperform" rating on shares of McKesson in a report on Thursday, August 6th. 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 a consensus target price of $973.44.

McKesson Stock Performance

Shares of NYSE:MCK opened at $907.35 on Monday. The company has a market capitalization of $105.79 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 1.81 and a beta of 0.30. The stock has a fifty day moving average of $848.13 and a 200-day moving average of $842.45. McKesson Corporation has a one year low of $682.35 and a one year high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last issued its 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. The business had revenue of $105.38 billion for the quarter, compared to analysts' expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts forecast that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is a boost from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio is presently 10.06%.

Insider Activity

In other news, CEO Brian Tyler sold 8,463 shares of McKesson stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 22,156 shares of company stock worth $17,305,242. Corporate insiders own 0.06% of the company's stock.

About McKesson

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.

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