MASTERINVEST Kapitalanlage GmbH Takes $2.44 Million Position in McKesson Corporation $MCK

Key Points

• MASTERINVEST Kapitalanlage GmbH acquired 3,236 McKesson shares worth approximately $2.44 million in the second quarter. Institutional investors collectively own 85.07% of McKesson’s outstanding stock.
• McKesson reported quarterly EPS of $9.93, exceeding estimates of $9.56, while revenue rose 7.7% year over year to $105.38 billion. The company also increased its quarterly dividend from $0.82 to $0.94 per share.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $973.44, although insiders sold more than $18 million in stock over the past 90 days.

MASTERINVEST Kapitalanlage GmbH bought a new stake in McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,236 shares of the company's stock, valued at approximately $2,445,000.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of McKesson in the 2nd quarter valued at about $8,156,743,000. State Street Corp lifted its stake in McKesson by 0.5% in the 4th quarter. State Street Corp now owns 5,780,179 shares of the company's stock valued at $4,746,118,000 after purchasing an additional 29,660 shares during the last quarter. Geode Capital Management LLC grew its holdings in McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company's stock worth $2,333,520,000 after purchasing an additional 25,082 shares during the period. Franklin Resources Inc. grew its holdings in McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company's stock worth $2,318,102,000 after purchasing an additional 144,633 shares during the period. Finally, Norges Bank acquired a new position in McKesson during the fourth quarter worth approximately $1,651,137,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares of the company's stock, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 dated Friday, June 5th. The shares were 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 directly owned 632 shares of the company's stock, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 23,111 shares of company stock valued at $18,011,274. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Wall Street Zen downgraded McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Evercore reissued an "outperform" rating on shares of McKesson in a report on Thursday, August 6th. Citigroup increased their price target on McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Finally, Barclays raised their price target on McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $973.44.

McKesson Stock Down 0.7%

McKesson stock opened at $890.20 on Friday. The company's 50-day moving average price is $830.40 and its two-hundred day moving average price is $843.76. The stock has a market cap of $103.79 billion, a P/E ratio of 23.82, a P/E/G ratio of 1.76 and a beta of 0.30. McKesson Corporation has a twelve month low of $677.28 and a twelve month high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. During the same quarter in the previous year, the company posted $8.26 earnings per share. The business'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. Equities analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

McKesson 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source