McKesson Corporation $MCK Stock Acquired by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board increased its McKesson position by 37.8% in the third quarter, bringing its holdings to 5,064 shares valued at approximately $4.3 million. Institutional investors collectively own 85.07% of the company.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and four Holds. McKesson has a “Moderate Buy” consensus rating and an average price target of $997.12.
• 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 declared a quarterly dividend of $0.94 per share, representing a 0.4% yield.

North Dakota State Investment Board increased its position in McKesson Corporation (NYSE:MCK - Free Report) by 37.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,064 shares of the company's stock after purchasing an additional 1,389 shares during the period. North Dakota State Investment Board's holdings in McKesson were worth $4,324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. BlackRock Inc. bought a new position in McKesson during the 2nd quarter worth approximately $8,156,743,000. Bank of America Corp DE grew its position in shares of McKesson by 2.4% in the 1st quarter. Bank of America Corp DE now owns 1,538,726 shares of the company's stock worth $1,331,552,000 after acquiring an additional 35,916 shares in the last quarter. Swedbank AB increased its holdings in shares of McKesson by 13.5% in the 1st quarter. Swedbank AB now owns 1,005,610 shares of the company's stock valued at $870,215,000 after acquiring an additional 119,327 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of McKesson by 3.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company's stock valued at $697,096,000 after acquiring an additional 29,747 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of McKesson in the 2nd quarter valued at approximately $656,566,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research reports. Wells Fargo & Company upped their price target on McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 11th. Mizuho lifted their price objective on shares of McKesson from $905.00 to $1,020.00 and gave the stock a "neutral" rating in a report on Tuesday, October 20th. TD Cowen boosted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Barclays increased their target price on shares of McKesson from $925.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Finally, Citigroup increased their target price on shares of McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $997.12.

McKesson Trading Down 0.8%

Shares of NYSE MCK opened at $958.96 on Thursday. The company has a market cap of $111.81 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.99 and a beta of 0.30. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,030.27. The stock's 50 day simple moving average is $916.91 and its 200 day simple moving average is $861.22.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (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 during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the firm posted $8.26 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts forecast that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson's dividend payout ratio is currently 10.06%.

Insider Transactions at McKesson

In related news, CAO B Jr sold 111 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer owned 521 shares of the company's stock, valued at $464,445.45. This trade represents a 17.56% decrease in their position. The transaction was disclosed in a legal filing 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, Director Bradley Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,212 shares of company stock worth $1,164,182. Insiders own 0.06% of the company's stock.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson's principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.

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