McKesson Corporation $MCK Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP increased its McKesson stake by 19.9% in the fourth quarter, buying 21,373 more shares and bringing its total to 128,574 shares worth about $105.5 million.
• Several McKesson insiders sold shares in recent transactions, including CEO Brian S. Tyler and CAO Napoleon B. Rutledge, Jr.; over the past 90 days, insiders have sold 11,822 shares worth nearly $9.0 million.
• McKesson reported solid quarterly results and maintained a modest dividend, with EPS of $11.69 beating estimates and revenue rising 6% year over year, while also declaring a quarterly dividend of $0.82 per share.

Korea Investment CORP raised its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,574 shares of the company's stock after buying an additional 21,373 shares during the period. Korea Investment CORP owned about 0.10% of McKesson worth $105,468,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MCK. Cullen Investment Group LTD. raised its holdings in McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company's stock worth $3,811,000 after purchasing an additional 3,952 shares in the last quarter. Pensionfund Sabic acquired a new position in shares of McKesson in the 4th quarter valued at $1,887,000. Varma Mutual Pension Insurance Co boosted its holdings in shares of McKesson by 28.9% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 21,853 shares of the company's stock valued at $16,882,000 after buying an additional 4,900 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of McKesson by 18.8% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,009 shares of the company's stock valued at $7,732,000 after buying an additional 1,585 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of McKesson by 24.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 242,256 shares of the company's stock valued at $187,152,000 after buying an additional 47,352 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total value of $3,760,827.00. Following the sale, the chief executive officer directly owned 22,845 shares of the company's stock, valued at $17,430,735. The trade was a 17.75% 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. Over the last 90 days, insiders have sold 11,822 shares of company stock worth $8,986,212. Insiders own 0.08% of the company's stock.

McKesson Price Performance

MCK stock opened at $783.88 on Friday. The company has a market cap of $94.22 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.31. The company has a fifty day moving average price of $798.10 and a 200 day moving average price of $846.35. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson's dividend payout ratio (DPR) is currently 8.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MCK shares. Weiss Ratings cut shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. William Blair began coverage on McKesson in a report on Tuesday, April 28th. They set an "outperform" rating on the stock. Bank of America cut their target price on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Finally, Citigroup decreased their target price on McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $960.53.

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.

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