Empowered Funds LLC lifted its stake in McKesson Corporation (NYSE:MCK - Free Report) by 60.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,047 shares of the company's stock after purchasing an additional 23,294 shares during the period. Empowered Funds LLC owned 0.05% of McKesson worth $53,693,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in McKesson during the fourth quarter worth about $1,651,137,000. Swedbank AB increased its stake in shares of McKesson by 42.2% in the 4th quarter. Swedbank AB now owns 886,283 shares of the company's stock valued at $727,009,000 after acquiring an additional 263,189 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of McKesson by 4,300.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 214,693 shares of the company's stock valued at $185,787,000 after acquiring an additional 209,814 shares during the last quarter. SurgoCap Partners LP raised its position in shares of McKesson by 68.7% in the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock valued at $349,390,000 after acquiring an additional 184,106 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of McKesson by 73.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company's stock valued at $354,839,000 after acquiring an additional 183,590 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at McKesson
In related news, CEO Brian S. Tyler sold 8,463 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 5,919 shares of the company's stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the sale, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,748 shares of company stock worth $22,262,035 in the last three months. 0.06% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Citigroup boosted their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a report on Friday. TD Cowen cut their target price on shares of McKesson from $1,012.00 to $989.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. Barclays reduced their price target on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 10th. Bank of America lowered their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $962.67.
View Our Latest Research Report on McKesson
McKesson Stock Performance
Shares of McKesson stock opened at $850.94 on Tuesday. The firm has a market cap of $99.63 billion, a PE ratio of 22.12, a P/E/G ratio of 1.38 and a beta of 0.31. The business's 50 day simple moving average is $781.55 and its 200 day simple moving average is $838.73. 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 released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts' consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business's revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts predict that McKesson Corporation will post 44.28 EPS for the current year.
McKesson Increases Dividend
The firm 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 dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio is currently 9.77%.
McKesson 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.
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