Raiffeisen Bank International AG Has $19.85 Million Stock Position in McKesson Corporation $MCK

Key Points

• Raiffeisen Bank International increased its McKesson stake by 4.8% in the second quarter, bringing its holdings to 26,549 shares valued at approximately $19.85 million. Institutional investors collectively own 85.07% of McKesson.
• McKesson reported quarterly results above expectations, with EPS of $9.93 versus the $9.56 consensus and revenue of $105.38 billion, up 7.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $973.44.
• The company raised its quarterly dividend from $0.82 to $0.94 per share, implying an annualized dividend of $3.76 and a 0.4% yield. Meanwhile, insiders sold 22,156 shares worth approximately $17.3 million over the past 90 days.

Raiffeisen Bank International AG lifted its position in McKesson Corporation (NYSE:MCK - Free Report) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,549 shares of the company's stock after buying an additional 1,223 shares during the period. Raiffeisen Bank International AG's holdings in McKesson were worth $19,846,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson in the fourth quarter valued at about $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the 4th quarter valued at about $26,000. Delos Wealth Advisors LLC bought a new position in shares of McKesson during the 2nd quarter valued at about $27,000. State of Wyoming acquired a new position in shares of McKesson in the 2nd quarter valued at approximately $29,000. Finally, Kingdom Financial Group LLC. acquired a new position in shares of McKesson in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Transactions at McKesson

In other news, CEO Brian Tyler sold 8,463 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their position. The transaction was disclosed in a 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, Director Bradley Lerman sold 301 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 22,156 shares of company stock valued at $17,305,242. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on MCK shares. Evercore restated an "outperform" rating on shares of McKesson in a report on Thursday, August 6th. Citigroup upped their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a report on Friday, July 24th. UBS Group increased their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings lowered shares of McKesson from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $973.44.

McKesson Stock Performance

Shares of McKesson stock opened at $921.70 on Friday. The firm has a market cap of $107.46 billion, a PE ratio of 24.66, a P/E/G ratio of 1.84 and a beta of 0.30. The business's 50 day simple moving average is $845.27 and its 200 day simple moving average is $842.63. McKesson Corporation has a 52-week low of $682.35 and a 52-week high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping 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 the consensus estimate of $103.88 billion. During the same quarter in the prior year, the firm posted $8.26 EPS. The business'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. As a group, equities research analysts predict that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is a boost from McKesson's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson's payout ratio is presently 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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