Healthcare of Ontario Pension Plan Trust Fund grew its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 4,300.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,693 shares of the company's stock after purchasing an additional 209,814 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.18% of McKesson worth $185,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dai ichi Life Insurance Company Ltd lifted its stake in McKesson by 4.0% in the first quarter. Dai ichi Life Insurance Company Ltd now owns 18,315 shares of the company's stock valued at $15,849,000 after buying an additional 699 shares during the period. Renaissance Technologies LLC grew its position in shares of McKesson by 91.3% during the 1st quarter. Renaissance Technologies LLC now owns 117,246 shares of the company's stock worth $101,460,000 after buying an additional 55,960 shares during the period. Compound Planning Inc. grew its position in shares of McKesson by 5.4% during the 1st quarter. Compound Planning Inc. now owns 2,737 shares of the company's stock worth $2,369,000 after buying an additional 139 shares during the period. Klingman & Associates LLC increased its stake in shares of McKesson by 12.8% in the 1st quarter. Klingman & Associates LLC now owns 291 shares of the company's stock valued at $252,000 after acquiring an additional 33 shares in the last quarter. Finally, Modern Wealth Management LLC lifted its position in shares of McKesson by 10.2% during the 1st quarter. Modern Wealth Management LLC now owns 929 shares of the company's stock valued at $811,000 after acquiring an additional 86 shares during the period. Institutional investors own 85.07% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. TD Cowen reduced their price target on shares of McKesson from $1,012.00 to $989.00 and set a "buy" rating for the company in a report on Tuesday. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They set an "outperform" rating on the stock. Barclays dropped their price objective on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating on the stock in a report on Wednesday, June 10th. Wells Fargo & Company reduced their target price on McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. decreased their target price on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $962.67.
Read Our Latest Research Report on McKesson
More McKesson News
Here are the key news stories impacting McKesson this week:
Insider Buying and Selling at McKesson
In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares of the company's stock, valued at $2,471,259.23. This represents a 52.23% 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. Insiders sold a total of 28,748 shares of company stock worth $22,262,035 in the last quarter. 0.06% of the stock is owned by insiders.
McKesson Trading Up 2.0%
Shares of MCK stock opened at $840.76 on Friday. The firm has a fifty day simple moving average of $780.04 and a two-hundred day simple moving average of $838.46. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm has a market capitalization of $98.43 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.36 and a beta of 0.31.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts' consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.
McKesson Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. McKesson's payout ratio is 9.77%.
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.
Further Reading
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