Raiffeisen Bank International AG Raises Stake in McKesson Corporation $MCK

Key Points

• Raiffeisen Bank International AG increased its McKesson stake by 13.1% in the fourth quarter, adding 2,537 shares to bring its total to 21,890 shares worth about $18.1 million.
• McKesson insiders have been selling shares recently, including CEO Brian S. Tyler and EVP Michele Lau, with insiders selling 11,822 shares valued at nearly $9.0 million over the last 90 days.
• The company reported quarterly EPS of $11.69, beating estimates, and also declared a $0.82 quarterly dividend. Analyst sentiment remains positive, with a consensus rating of Moderate Buy and an average price target of $960.53.

Raiffeisen Bank International AG boosted its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 13.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,890 shares of the company's stock after buying an additional 2,537 shares during the quarter. Raiffeisen Bank International AG's holdings in McKesson were worth $18,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. boosted its stake in McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock worth $1,855,000 after purchasing an additional 11 shares in the last quarter. Investment Research Partners LLC boosted its holdings in shares of McKesson by 0.7% in the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock worth $1,332,000 after buying an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC increased its stake in shares of McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company's stock worth $346,000 after purchasing an additional 12 shares in the last quarter. LRI Investments LLC grew its holdings in McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after purchasing an additional 12 shares during the period. Finally, Macroview Investment Management LLC grew its stake 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 acquiring an additional 12 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 4,929 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the transaction, the chief executive officer owned 22,845 shares of the company's stock, valued at approximately $17,430,735. This represents a 17.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. 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 11,822 shares of company stock valued at $8,986,212 over the last 90 days. Insiders own 0.08% of the company's stock.

McKesson Price Performance

Shares of MCK opened at $788.44 on Friday. The stock has a market capitalization of $94.77 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.30 and a beta of 0.31. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The business's 50 day simple moving average is $799.89 and its 200-day simple moving average is $846.79.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analysts' expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts expect that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson's dividend payout ratio is 8.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. William Blair assumed coverage on McKesson in a report on Tuesday, April 28th. They set an "outperform" rating on the stock. Evercore restated an "outperform" rating on shares of McKesson in a research note on Thursday, March 5th. Barclays dropped their price target on McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Finally, Raymond James Financial set a $970.00 price target on McKesson in a research note on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $960.53.

McKesson 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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