Varma Mutual Pension Insurance Co purchased a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 23,453 shares of the company's stock, valued at approximately $17,721,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in McKesson during the second quarter valued at approximately $8,156,743,000. Norges Bank purchased a new position in McKesson in the fourth quarter worth $1,651,137,000. Bank of New York Mellon Corp acquired a new position in shares of McKesson during the second quarter worth $599,060,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of McKesson during the second quarter worth $495,737,000. Finally, Deutsche Bank AG purchased a new stake in shares of McKesson during the 2nd quarter valued at $337,316,000. Hedge funds and other institutional investors own 85.07% of the company's stock.
Analysts Set New Price Targets
MCK has been the subject of a number of recent analyst reports. Robert W. Baird set a $1,015.00 price objective on McKesson in a research report on Thursday, August 6th. JPMorgan Chase & Co. reduced their target price on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Barclays increased their price target on McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday. Citigroup raised their price target on McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, William Blair started coverage on McKesson in a research note on Tuesday, April 28th. They set an "outperform" rating on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $973.44.
View Our Latest Research Report on McKesson
McKesson Stock Performance
Shares of MCK opened at $862.27 on Friday. The business's 50-day moving average is $820.97 and its two-hundred day moving average is $843.86. The company has a market capitalization of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30. McKesson Corporation has a fifty-two week low of $673.38 and a fifty-two week high of $999.00.
McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data 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. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. During the same quarter in the previous year, the firm posted $8.26 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts forecast that McKesson Corporation will post 44.65 EPS for the current year.
McKesson Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is an increase from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson's dividend payout ratio (DPR) is 8.78%.
Insider Buying and Selling
In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer owned 632 shares of the company's stock, valued at $482,848. This trade represents a 17.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 5,919 shares of the company's stock, valued at approximately $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 29,049 shares of company stock valued at $22,530,626 in the last three months. 0.06% of the stock is currently owned by company insiders.
McKesson Profile
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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.
See Also
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