Walter Public Investments Inc. Invests $6.54 Million in McKesson Corporation $MCK

Key Points

• Walter Public Investments bought a new stake in McKesson during the fourth quarter, acquiring 7,970 shares valued at about $6.54 million.
• McKesson shares were down about 2% to $741.47, even as the stock remains heavily owned by institutions, which hold 85.07% of the company.
• The company beat quarterly EPS estimates at $11.69, declared a $0.82 quarterly dividend, and continues to have a broadly positive analyst outlook with a Moderate Buy consensus.

Walter Public Investments Inc. purchased a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,970 shares of the company's stock, valued at approximately $6,538,000.

Several other institutional investors and hedge funds have also modified their holdings of MCK. Norges Bank purchased a new position in shares of McKesson during the 4th quarter valued at $1,651,137,000. Swedbank AB lifted its stake in shares of McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company's stock valued at $727,009,000 after buying an additional 263,189 shares in the last quarter. SurgoCap Partners LP lifted its stake in shares of McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock valued at $349,390,000 after buying an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company's stock valued at $354,839,000 after buying an additional 183,590 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of McKesson during the 3rd quarter valued at $135,352,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Down 2.0%

Shares of MCK stock opened at $741.47 on Friday. The stock has a market cap of $89.12 billion, a P/E ratio of 19.27, a PEG ratio of 1.11 and a beta of 0.35. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The company's fifty day simple moving average is $819.93 and its two-hundred day simple moving average is $852.44.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 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 net margin of 1.18% and a negative return on equity of 345.35%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts anticipate that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given 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 is Monday, June 1st. McKesson's dividend payout ratio is currently 8.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Mizuho lifted their target price on shares of McKesson from $880.00 to $885.00 and gave the company a "neutral" rating in a research note on Thursday, February 5th. Barclays lifted their target price on shares of McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Bank of America lowered their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Leerink Partners restated an "outperform" rating and set a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. Finally, Wall Street Zen upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and an average target price of $968.87.

Insider Activity

In other news, EVP Michele Lau sold 3,550 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the sale, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 8,663 shares of company stock worth $7,217,102 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

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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