National Pension Service Buys 10,878 Shares of McKesson Corporation $MCK

Key Points

• National Pension Service increased its McKesson stake by 2.7% in the second quarter, acquiring 10,878 shares and bringing its holdings to 407,092 shares worth approximately $307.6 million. Institutional investors own 85.07% of the company.
• Analysts remain broadly positive, with 14 Buy ratings and four Holds, resulting in a “Moderate Buy” consensus and an average price target of $973.44. Citigroup and TD Cowen recently raised their targets to $1,000 and $1,006, respectively.
• McKesson reported quarterly EPS of $9.93, exceeding estimates, 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, equivalent to a 0.4% annualized yield.

National Pension Service boosted its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 407,092 shares of the company's stock after acquiring an additional 10,878 shares during the quarter. National Pension Service owned approximately 0.35% of McKesson worth $307,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. grew its holdings in McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock worth $1,855,000 after acquiring an additional 11 shares during the period. Investment Research Partners LLC lifted its stake in shares of McKesson by 0.7% in the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock valued at $1,332,000 after purchasing an additional 11 shares during the period. IHT Wealth Management LLC lifted its stake in shares of McKesson by 0.9% in the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company's stock valued at $981,000 after purchasing an additional 11 shares during the period. Macroview Investment Management LLC boosted its position in shares of McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock worth $264,000 after purchasing an additional 12 shares during the last quarter. Finally, Anchyra Partners LLC boosted its position in shares of McKesson by 1.0% in the 1st quarter. Anchyra Partners LLC now owns 1,174 shares of the company's stock worth $1,016,000 after purchasing an additional 12 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on MCK shares. Evercore reiterated an "outperform" rating on shares of McKesson in a report on Thursday, August 6th. Weiss Ratings upgraded McKesson from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, September 4th. Citigroup boosted their target price on McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. 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 report on Thursday, August 6th. Finally, Wall Street Zen lowered shares of McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $973.44.

McKesson Trading Up 0.6%

Shares of McKesson stock opened at $894.38 on Thursday. The stock's fifty day simple moving average is $856.40 and its 200 day simple moving average is $841.46. The company has a market capitalization of $104.28 billion, a PE ratio of 23.93, a PEG ratio of 1.77 and a beta of 0.30. McKesson Corporation has a 12 month low of $687.68 and a 12 month high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results 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 firm had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. During the same period in the previous year, the firm earned $8.26 earnings per share. The company'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. Analysts predict that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.82. McKesson's payout ratio is presently 10.06%.

Insider Activity at McKesson

In related news, Director Bradley Lerman sold 301 shares of the 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Tyler sold 8,463 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This trade 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. Insiders sold a total of 17,227 shares of company stock valued at $13,544,415 over the last quarter. 0.06% of the stock is owned by insiders.

McKesson Company Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company's businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.

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