Banque Cantonale Vaudoise Grows Holdings in McKesson Corporation $MCK

Key Points

• Banque Cantonale Vaudoise increased its McKesson stake by 24% in the fourth quarter, ending with 7,992 shares valued at about $6.56 million.
• McKesson’s latest earnings beat expectations, reporting $11.69 EPS versus the $11.56 consensus, though revenue of $96.3 billion came in below estimates.
• Analysts remain largely bullish on the stock, with 14 Buy ratings, 3 Hold ratings, and an average price target of $968.87 despite some recent target cuts.

Banque Cantonale Vaudoise raised its stake in McKesson Corporation (NYSE:MCK - Free Report) by 24.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,992 shares of the company's stock after buying an additional 1,547 shares during the period. Banque Cantonale Vaudoise's holdings in McKesson were worth $6,556,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MCK. Brighton Jones LLC increased its position in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of McKesson in the 1st quarter valued at $233,000. Sivia Capital Partners LLC grew its holdings in shares of McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock valued at $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock valued at $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in McKesson in the 2nd quarter worth $166,000. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCK has been the subject of several analyst reports. Evercore restated an "outperform" rating on shares of McKesson in a research report on Thursday, March 5th. JPMorgan Chase & Co. dropped 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. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of McKesson in a research note on Monday, May 4th. Bank of America dropped their price objective on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Finally, Wells Fargo & Company lowered their price target on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a report on Tuesday, May 12th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $968.87.

McKesson Stock Performance

MCK opened at $762.50 on Wednesday. The stock has a market capitalization of $91.65 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.16 and a beta of 0.35. The stock's 50 day moving average price is $848.60 and its 200-day moving average price is $857.00. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts' consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter last year, the firm posted $10.12 earnings per share. The firm's revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts forecast that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio (DPR) is 8.53%.

Insider Activity

In other McKesson news, Director Maria Martinez sold 349 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total transaction of $328,014.63. Following the transaction, the director owned 301 shares in the company, valued at approximately $282,900.87. This represents a 53.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the transaction, the executive vice president directly owned 3,247 shares of the company's stock, valued at approximately $3,214,530. This trade represents a 45.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.08% 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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