Caisse de depot et placement du Quebec Makes New $1.75 Million Investment in McKesson Corporation $MCK

Caisse de depot et placement du Quebec purchased a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,310 shares of the company's stock, valued at approximately $1,745,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. University of Texas Texas AM Investment Management Co. bought a new position in shares of McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. bought a new stake in McKesson in the 4th quarter valued at approximately $26,000. Delos Wealth Advisors LLC acquired a new position in McKesson during the 2nd quarter worth approximately $27,000. State of Wyoming acquired a new position in McKesson during the 2nd quarter worth approximately $29,000. Finally, Kingdom Financial Group LLC. bought a new position in shares of McKesson during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company's stock, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the company's 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 completion of the sale, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,111 shares of company stock valued at $18,011,274 in the last 90 days. 0.06% of the stock is owned by company insiders.

Key Stories Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
• Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
• Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
• Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft

McKesson Trading Up 0.6%

NYSE MCK opened at $895.59 on Friday. McKesson Corporation has a 12 month low of $679.65 and a 12 month high of $999.00. The stock has a 50 day moving average of $833.31 and a 200-day moving average of $844.13. The company has a market cap of $104.42 billion, a PE ratio of 23.97, a PEG ratio of 1.76 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the previous year, the company earned $8.26 earnings per share. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts predict that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio (DPR) is presently 8.78%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MCK. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Barclays lifted their price target on shares of McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a research report on Thursday, August 6th. UBS Group increased their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company raised their price objective on McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a report on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $973.44.

McKesson Company Profile

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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