Railway Pension Investments Ltd cut its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,642 shares of the company's stock after selling 2,040 shares during the quarter. Railway Pension Investments Ltd owned 0.09% of McKesson worth $81,334,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. boosted its stake in McKesson by 0.5% during 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 in the last quarter. Investment Research Partners LLC boosted 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 in the last quarter. IHT Wealth Management LLC lifted its holdings in McKesson by 0.9% during 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 last quarter. LRI Investments LLC boosted its position in McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after buying an additional 12 shares in the last quarter. Finally, Macroview Investment Management LLC boosted its position in McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after buying an additional 12 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at McKesson
In other news, Director Bradley E. Lerman sold 301 shares of the business's stock in a transaction 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 at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% 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 22,289 shares of company stock worth $17,406,854 in the last ninety days. 0.06% of the stock is owned by company insiders.
McKesson Stock Down 0.9%
McKesson stock opened at $885.36 on Tuesday. The company has a 50 day moving average of $836.11 and a 200-day moving average of $842.95. McKesson Corporation has a twelve month low of $679.65 and a twelve month high of $999.00. The stock has a market capitalization of $103.22 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities analysts anticipate that McKesson Corporation will post 44.65 EPS for the current fiscal year.
McKesson Increases Dividend
The business 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson's dividend payout ratio (DPR) is 8.78%.
Analyst Upgrades and Downgrades
MCK has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 11th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research note on Thursday, August 6th. Weiss Ratings downgraded McKesson from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 7th. Morgan Stanley reiterated an "overweight" rating on shares of McKesson in a research report on Friday, August 7th. Finally, Wall Street Zen cut McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $973.44.
Get Our Latest Report on MCK
McKesson Company Profile
(
Free Report)
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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