MASTERINVEST Kapitalanlage GmbH Invests $2.44 Million in McKesson Corporation $MCK

MASTERINVEST Kapitalanlage GmbH purchased a new stake in McKesson Corporation (NYSE:MCK) in the second quarter, HoldingsChannel reports. The firm purchased 3,236 shares of the company’s stock, valued at approximately $2,445,000.

Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. bought a new position in McKesson during the 2nd quarter worth $8,156,743,000. State Street Corp lifted its position in shares of 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 during the period. Geode Capital Management LLC lifted its position in shares of 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 during the period. Franklin Resources Inc. grew its holdings in shares of McKesson by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after purchasing an additional 144,633 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of McKesson during the 4th quarter worth $1,651,137,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% 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. Insiders sold a total of 23,111 shares of company stock worth $18,011,274 over the last three months. 0.06% of the stock is owned by insiders.

McKesson Stock Performance

Shares of MCK opened at $890.20 on Friday. McKesson Corporation has a 52-week low of $677.28 and a 52-week high of $999.00. The business’s fifty day moving average is $830.40 and its 200-day moving average is $843.76. The firm has a market cap of $103.79 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.76 and a beta of 0.30.

McKesson (NYSE:MCK) last posted 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. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company 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 earned $8.26 EPS. McKesson’s revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts forecast that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is presently 8.78%.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Royal Bank Of Canada started coverage on McKesson in a research report on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price target on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. UBS Group raised their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. TD Cowen raised their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.