McKesson Corporation $MCK Stock Holdings Reduced by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its McKesson stake by 23.6% in the second quarter, selling 30,066 shares and retaining 97,415 shares valued at approximately $74.9 million. Institutional investors collectively own 85.07% of McKesson.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $973.44; Citigroup raised its target to $1,000.
• McKesson reported quarterly earnings of $9.93 per share, exceeding expectations, 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.

TD Waterhouse Canada Inc. reduced its position in McKesson Corporation (NYSE:MCK - Free Report) by 23.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,415 shares of the company's stock after selling 30,066 shares during the period. TD Waterhouse Canada Inc. owned about 0.08% of McKesson worth $74,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. Meiji Yasuda Asset Management Co Ltd. increased its holdings in McKesson by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock worth $1,855,000 after buying an additional 11 shares during the last quarter. Investment Research Partners LLC increased its stake in shares of McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock worth $1,332,000 after purchasing an additional 11 shares during the last quarter. IHT Wealth Management LLC increased its stake in shares of McKesson by 0.9% during the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company's stock worth $981,000 after purchasing an additional 11 shares during the last quarter. LRI Investments LLC raised its holdings in shares of McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after purchasing an additional 12 shares in the last quarter. Finally, Macroview Investment Management LLC raised its holdings in shares of McKesson by 3.9% during the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after purchasing an additional 12 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MCK shares. Morgan Stanley reaffirmed an "overweight" rating on shares of McKesson in a research note on Friday, August 7th. Citigroup raised their target price on McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a report on Friday, July 24th. Weiss Ratings cut McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 7th. Evercore reiterated an "outperform" rating on shares of McKesson in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada began coverage on McKesson in a report on Wednesday, August 19th. They set a "sector perform" rating and a $845.00 price objective on the stock. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $973.44.

Insider Buying and Selling at McKesson

In other news, Director Bradley E. 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,463 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 22,156 shares of company stock valued at $17,305,242. 0.06% of the stock is owned by company insiders.

McKesson Stock Down 0.3%

Shares of NYSE MCK opened at $921.70 on Friday. McKesson Corporation has a 12 month low of $682.35 and a 12 month high of $999.00. The company has a market cap of $107.46 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.84 and a beta of 0.30. The business's 50 day moving average is $845.27 and its two-hundred day moving average is $842.63.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $8.26 earnings per share. McKesson'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. Sell-side analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio is 10.06%.

McKesson Company 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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