Cibc World Market Inc. acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 52,431 shares of the company's stock, valued at approximately $39,617,000.
Other large investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of McKesson in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new stake in McKesson during the 4th quarter worth approximately $26,000. State of Wyoming bought a new stake in McKesson during the 2nd quarter worth approximately $29,000. Kingdom Financial Group LLC. purchased a new stake in McKesson in the 4th quarter worth approximately $33,000. Finally, Birchwood Financial Partners Inc. bought a new position in McKesson in the 4th quarter valued at $33,000. Institutional investors own 85.07% of the company's stock.
McKesson Stock Performance
Shares of NYSE:MCK opened at $862.27 on Monday. McKesson Corporation has a 52-week low of $673.38 and a 52-week high of $999.00. The firm has a fifty day moving average of $820.97 and a 200 day moving average of $843.84. The firm has a market capitalization of $100.53 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30.
McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion for the quarter, compared to analysts' expectations of $103.88 billion. During the same quarter in the prior year, the firm earned $8.26 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, sell-side analysts forecast 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. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from McKesson's previous quarterly dividend of $0.82. McKesson's payout ratio is 10.06%.
Wall Street Analyst Weigh In
MCK has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a research report on Wednesday. Robert W. Baird set a $1,015.00 price objective on McKesson in a research note on Thursday, August 6th. Weiss Ratings lowered McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. Evercore reaffirmed an "outperform" rating on shares of McKesson in a report on Thursday, August 6th. Finally, TD Cowen lifted their price target on McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $973.44.
Get Our Latest Research Report on McKesson
Insider Buying and Selling
In other McKesson news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company's stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the chief accounting officer owned 632 shares of the company's stock, valued at approximately $482,848. The trade was 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 29,049 shares of company stock worth $22,530,626 over the last ninety days. Corporate insiders own 0.06% of the company's stock.
McKesson Company Profile
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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.
Further Reading
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