B. Metzler seel. Sohn & Co. AG grew its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 29.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,288 shares of the company's stock after purchasing an additional 4,671 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in McKesson were worth $15,329,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock valued at $1,855,000 after acquiring an additional 11 shares during the period. Investment Research Partners LLC boosted its position in shares of McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock worth $1,332,000 after purchasing an additional 11 shares during the period. IHT Wealth Management LLC boosted its position in shares of McKesson by 0.9% during the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company's stock worth $981,000 after purchasing an additional 11 shares during the period. LRI Investments LLC increased its holdings in McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after purchasing an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC increased its holdings in McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after purchasing an additional 12 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
McKesson Stock Up 2.2%
NYSE:MCK opened at $927.16 on Thursday. McKesson Corporation has a 52 week low of $682.35 and a 52 week high of $999.00. The company has a fifty day simple moving average of $842.13 and a two-hundred day simple moving average of $842.72. The company has a market cap of $108.10 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 1.80 and a beta of 0.30.
McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts expect that McKesson Corporation will post 44.65 EPS for the current year.
McKesson Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a positive change from McKesson's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson's dividend payout ratio is 10.06%.
Insider Activity at McKesson
In related news, Director Bradley E. Lerman sold 301 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company's stock, valued at approximately $482,848. This represents a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,289 shares of company stock valued at $17,406,854 over the last 90 days. 0.06% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have commented on MCK. TD Cowen upped their price target on McKesson from $989.00 to $1,006.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Barclays lifted their price objective on McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Citigroup boosted their price objective on McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a report on Friday, July 24th. Wall Street Zen lowered McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Finally, JPMorgan Chase & Co. lowered their target price on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $973.44.
Check Out Our Latest Stock Report on MCK
McKesson Profile
(
Free Report)
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.
See Also
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