2,815 Shares in McKesson Corporation $MCK Bought by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. bought a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, HoldingsChannel.com reports. The firm bought 2,815 shares of the company’s stock, valued at approximately $2,127,000.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of McKesson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after buying an additional 73,109 shares during the last quarter. BlackRock Inc. acquired a new stake in McKesson in the 2nd quarter valued at about $8,156,743,000. State Street Corp increased its holdings in McKesson by 0.5% during the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after acquiring an additional 29,660 shares in the last quarter. Geode Capital Management LLC increased its holdings in McKesson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after acquiring an additional 25,082 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after acquiring an additional 144,633 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 1.5%

NYSE:MCK opened at $841.21 on Friday. McKesson Corporation has a 12-month low of $673.38 and a 12-month high of $999.00. The firm has a market cap of $98.08 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 1.68 and a beta of 0.30. The company’s 50-day moving average is $819.40 and its two-hundred day moving average is $843.73.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced 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 represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is 10.06%.

Insider Transactions at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The transaction 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, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,049 shares of company stock worth $22,530,626 in the last three months. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MCK has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a report on Friday, August 7th. William Blair initiated coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. UBS Group lifted their price objective on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $973.44.

About McKesson

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.