McKesson Corporation $MCK Stock: Cidel Asset Management Inc. Raises Holdings

Key Points

• Cidel Asset Management increased its McKesson stake by 3,076.6% in the third quarter, bringing its holdings to 17,757 shares valued at approximately $15.2 million. Institutional investors collectively own 85.07% of the company.
• McKesson reported quarterly revenue of $105.38 billion and earnings of $9.93 per share, exceeding analyst expectations, while revenue grew 7.7% year over year. The company issued fiscal 2027 EPS guidance of $44.20–$45.00.
• Analysts maintain a broadly positive view, with a consensus rating of “Moderate Buy” and an average price target of $997.12. McKesson also declared a quarterly dividend of $0.94 per share, representing a 0.4% yield.

Cidel Asset Management Inc. increased its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 3,076.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,757 shares of the company's stock after purchasing an additional 17,198 shares during the period. Cidel Asset Management Inc.'s holdings in McKesson were worth $15,161,000 at the end of the most recent quarter.

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

McKesson Stock Performance

NYSE MCK opened at $994.77 on Friday. The firm has a market cap of $115.98 billion, a PE ratio of 26.62, a P/E/G ratio of 1.98 and a beta of 0.30. McKesson Corporation has a one year low of $723.68 and a one year high of $1,030.27. The firm's fifty day moving average is $922.54 and its two-hundred day moving average is $862.89.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. During the same period in the prior year, the company earned $8.26 earnings per share. The business's revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts predict that McKesson Corporation will post 44.71 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 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 is Tuesday, December 1st. McKesson's payout ratio is 10.06%.

Insider Buying and Selling at McKesson

In other McKesson news, Director Bradley Lerman sold 301 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO B Jr sold 111 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares of the company's stock, valued at $464,445.45. The trade was a 17.56% 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. Insiders sold a total of 1,212 shares of company stock valued at $1,164,182 in the last ninety days. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCK. Wells Fargo & Company increased their price objective on McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a report on Tuesday, August 11th. Mizuho boosted their target price on McKesson from $905.00 to $1,020.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 20th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $845.00 price target on shares of McKesson in a report on Monday, September 14th. Argus upped their price target on McKesson from $850.00 to $970.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Finally, TD Cowen increased their price target 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. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $997.12.

McKesson 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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